India Is Growing at a Rate of 9% Per Year

question 12

Multiple Choice

India is growing at a rate of 9% per year, and its real GDP per capita is about $3,500, while the United States is growing at a rate of 3% per year, and its real GDP per capita is about $47,000. How long will it take the United States to double its real GDP per capita?

• A) 10.5 years
• B) 23.3 years
• C) 30 years
• D) 50 years

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Definitions:

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Something not explicitly stated but understood to be included or involved through indirect indications or logical inference.

Statute of Frauds

A legal concept that requires certain types of contracts to be in writing and signed by the party to be charged, in order to be enforceable.

17th-Century

Referring to the period between the years 1601 and 1700, often noted for its significant historical, cultural, and scientific developments.

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The United Nations Convention on Contracts for the International Sale of Goods, a treaty that provides a uniform framework for international commerce.