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Assume that the poorest country in the world is Democratic Republic of the Congo and the richest country in the world is Luxembourg. Assume that Democratic Republic of the Congo has a per capita PPP GDP of $373 and Luxembourg has a per capita PPP GDP of $89,012. If Luxembourg grows at 1% per capita per year and Democratic Republic of the Congo grows at a healthy 3% per capita, how long will it take Democratic Republic of the Congo to catch up with Luxembourg?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M944988

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