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Macroeconomics 12th Edition by William Baumol,Alan Blinder
Edition 12ISBN: 978-1305033016Macroeconomics 12th Edition by William Baumol,Alan Blinder
Edition 12ISBN: 978-1305033016 Exercise 1
Two countries start with equal GDPs. The economy of Country A grows at an annual rate of 3 percent, whereas the economy of Country B grows at an annual rate of 4 percent. After 25 years, how much larger is Country B's economy than Country A's economy? Why is the answer not 25 percent?
Explanation
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Country A and B have same size of GDP, w...
Macroeconomics 12th Edition by William Baumol,Alan Blinder
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Character 255
