An IAC (Industrially Advanced Country) Had a Per Capita Income

Multiple Choice

An IAC (industrially advanced country) had a per capita income of $28,200 while a DVC (developing country) had a per capita income of $1,200. If both countries experience a per-capita-income growth of 2 percent, then their respective per-capita income levels will become:

A) $33,840 and $1,440
B) $28,764 and $1,224
C) $33,840 and $1,224
D) $28,764 and $1,440