Suppose That Real GDP Per Capita of Canada Is $32

question 135

Multiple Choice

Suppose that real GDP per capita of Canada is $32 000 and its growth rate is 2% per year and that real GDP per capita of China is $4 000,and its annual growth rate is 7%.How many years will it take for China's real GDP per capita to be larger than real GDP per capita in Canada?

• A) 70-75 years
• B) 40-45 years
• C) 15-20 years
• D) 5-10 years

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Definitions:

Belongingness Needs

The innate human need to feel connected and accepted by others, often considered a fundamental human motivation.

Alderfer's Existence Needs

A component of Clayton Alderfer's ERG theory, focusing on the basic physical and material well-being requirements akin to Maslow's physiological and safety needs.

Maslow's

Relating to the hierarchy of needs theory developed by Abraham Maslow, which posits that human motivations are influenced by a progression of needs, starting from basic survival needs up to self-actualization.

Physiological Needs

Basic physical requirements for human survival, such as food, water, shelter, and clothing, that are essential to maintaining life.