South Korea Has Real GDP Per Capita of $25,000, While

question 247

Multiple Choice

South Korea has real GDP per capita of $25,000, while England has real GDP per capita of $50,000. If real GDP per capita in South Korea grows at 7% and England's real GDP per capita grows at 3.5%, how long will it take for real GDP per capita in the two nations to converge?

• A) 10 years
• B) 20 years
• C) 25 years
• D) 35 years

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Definitions:

Conditioning

The process of learning associations between environmental events and behavioral responses, typically discussed in the context of classical and operative conditioning.

Spotlight Effect

The psychological tendency to overestimate the extent to which our actions and appearance are noticed by others.

Current

Pertaining to the present time or most recent; also refers to a flow of electricity through a conductor.

Past

Refers to all events or periods that have occurred before the present time, often studied in the context of history to understand patterns of change and development.