Suppose That One Country Has a GDP That Is Ten

question 19

Essay

Suppose that one country has a GDP that is ten percent of its richer neighbor, but the poorer country is growing at a rate of eight percent per year while the richer country is growing at a rate of two percent per year. Which country will be richer in 60 years?

---

Definitions:

Collective Unconscious

A concept in Jungian psychology referring to the part of the unconscious mind which is derived from ancestral memory and experience and is common to all humankind.

Carl Jung

A Swiss psychiatrist and psychoanalyst who founded analytical psychology, known for concepts like archetypes and the collective unconscious.

Raymond Cattell

A psychologist known for his research in personality, intelligence theory, and the application of factor analysis in psychology.

Factor Analysis

A statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables called factors.