In This Year, Country a Has a Real GDP Per

question 77

Multiple Choice

In this year, Country A has a real GDP per person that is 4 times greater than that of Country B. country B's growth rate of real GDP per person is 3.5 percent per year. How many years will it take for Country B's real GDP per person to reach the same level that Country A had in this year?

• A)40 years
• B)56 years
• C)10 years
• D)60 years
• E)20 years

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Definitions:

Voidable Title

indicates that a title transfer may be nullified if the buyer discovers the seller did not have ownership rights or authority to sell the item in question.

Good-Faith Purchase

Buying property without knowledge of any existing claims or rights of others, believing the transaction to be honest and legal.

Goods-In-Bailment Contract

A contract where personal property or goods are transferred temporarily into the custody of another for a specific purpose but ownership remains with the bailor.

Simple Delivery Contract

A type of contract in which purchased goods are transferred to a buyer from a seller either at the time of the sale or sometime later by the seller’s delivery.