Suppose That in 1960 Japan Had an Initial Per Capita

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.