Use the Following to Answer Questions

question 251

Multiple Choice

Use the following to answer questions :
Scenario: Growth Rates
Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year. Real GDP per capita of China is $4,000, and its annual growth rate is 7%.
-(Scenario: Growth Rates) Look at the scenario Growth Rates. How many years will it take for China's real GDP per capita to be larger than real GDP per capita in the United States?

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

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Definitions:

Population

The total number of individuals or organisms of a particular species living within a specific area or region.

Cost Of Raising Children

The financial expenses associated with raising a child from birth to adulthood, including food, housing, healthcare, and education.

Child Labor

The employment of children in any work that deprives them of their childhood, interferes with their ability to attend regular school, and is mentally, physically, socially, or morally harmful.

Modern Economies

characterize the advanced and complex economic systems present in today's developed countries, often marked by innovation and technology.