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Question: Suppose real GDPs in country A and country B are identical at $10 trillion dollars in 2005. Suppose country A's economic growth rate is 2% and country B's is 4% and both growth rates remain constant over time.

On a graph, show country A's potential output until 2025.

On the same graph, show country B's potential output.

Calculate the percentage difference in their levels of potential output in 2025.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M93118856

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