Multiple Choice
Country A and country B initially have the same per capita income. Suppose that A sustains an annual growth rate of 3.5 percent, while the annual growth rate of country B is 1.75 percent. The "rule of 70" indicates that after forty years, the per capita income of country A will be approximately ____ that of country B.
A) one-half
B) 70 percent greater than
C) twice
D) four times
Correct Answer:
Verified
Correct Answer:
Verified
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