In This Year,Country a Has a Real GDP Per Person

question 14

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

---

Definitions:

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the physical factors of production including machinery, buildings, and land.

Labor

The contribution of human physical and mental energies in the fabrication of goods and the supply of services.

Technological Change

The development and application of new processes, tools, and machines, leading to more efficient production methods.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.