In 2014, Ethiopia had a per capita income of $1,500, about $4 per day. Compute per capita
Question:
In 2014, Ethiopia had a per capita income of $1,500, about $4 per day. Compute per capita income in Ethiopia for the year 2050 assuming average annual growth is:
(a) 1% per year.
(b) 2% per year.
(c) 4% per year.
(d) 6% per year.
(For comparison, per capita income in Mexico in the year 2014 was nearly $15,000, about 30 percent of the U.S. level.)
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2050 is thirty six years from 2014 a 2146 b 30...View the full answer
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