Suppose That in 1960 Japan Had an Initial Per Capita

question 78

Multiple Choice

Suppose that in 1960 Japan had an initial per capita GDP of $12,000 per year and China had a per capita GDP of $5,000. But China is growing at 5 percent per year and Japan is growing at 3 percent per year. ________ is richer in 2010 with a per capita GDP of approximately ________.

• A) Japan; $5,000
• B) Japan; $31,500
• C) China; $7,500
• D) China; $73,500
• E) Not enough information is given.

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Definitions:

Several Seconds

A brief period of time, typically less than a minute, often used to describe the duration of brief events.

Minutes

Written records of the main points and decisions made during meetings or formal gatherings.

Seven-digit Phone Number

A standard format for telephone numbers that includes a sequence of seven digits, often used in the United States and other countries.

Short-term Memory

The ability to keep a limited amount of data in a readily accessible and active condition for a brief duration.