Over the past 50 years, many countries have experienced an annual growth rate in real GDP per
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Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan. Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of the growth rate of real GDP per capita? Explain.
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The fact that some countries such as China Japan South Korea and Taiwan have experienced higher annual growth rates in real GDP per capita than the Un...View the full answer
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