Assume That Both Japan's and the United States' Average Annual

question 57

Multiple Choice

Assume that both Japan's and the United States' average annual per capita GDP growth rates are 2 percent per year, and both countries began with an initial per capita GDP of $1,000. However, the United States has been growing since 1915 and Japan only since 1965. In 2015, the United States would have been ________ than Japan.

• A) 0.37 times poorer
• B) 99 times richer
• C) 2.69 times richer
• D) 4,555 times richer
• E) 0.269 times poorer

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Definitions:

Direct Labor Cost

The total cost of all labor hours worked directly on a specific job or project.