Suppose That in 1950 Japan Has an Initial Per Capita

Multiple Choice

Suppose that in 1950 Japan has an initial per capita GDP of $15,000 per year and China has a per capita GDP of $2,500. But China is growing at 7 percent per year and Japan is growing at 2 percent per year. In 2010, ________ is the lower-income country, with a per capita GDP of approximately ________.

A) China; $2,500
B) Japan; $15,000
C) Japan; $50,000
D) China; $46,000
E) Japan; $105,000