Question: State whether the following question is True or False. Explain your answer. In 1990, a country's per capita income was $1,000. By the year 2000,

State whether the following question is True or False. Explain your answer.

In 1990, a country's per capita income was $1,000. By the year 2000, it was $1,650. The average annual growth rate was approximately 0.05.

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