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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