*Country Able and Country Baker initially have the same real GDP per capita. Country Able experiences no economic growth, while Country Baker grows at a sustained rate of 7 percent. In 12 years, Country Baker’s GDP will be approximately ___________ that of Country Able.
A. triple
B. double
C. one-half
D. one-fourth
Answer:B
*Country Able and Country Baker initially have the same real GDP per capita. Country Able experiences no economic growth, while Country Baker grows at a sustained rate of 7 percent. In 12 years, Country Baker’s GDP will be approximately ___________ that of Country Able.
A. triple B. double C. one-half D. one-fourth
Explanation: Type: Multiple Choice