On page 50, we noted that the growth rate of per capita GDP in the united tates
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On page 50, we noted that the growth rate of per capita GDP in the united tates between 1870 and 1929 was slightly lower than 2%. While the growth rate between 1950 and 2012 was slightly higher. Using the following table, calculate the actual average annual growth rates during these two periods.
Year U.S. Income
1870 $2,840
1929 $8,020
1950 $13,225
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