Question: The data in the following table represents real GDP per capita in 1974 and 2014 for five countries. Fill in the table by calculating the

 The data in the following table represents real GDP per capita

The data in the following table represents real GDP per capita in 1974 and 2014 for five countries. Fill in the table by calculating the annual growth rate in real GDP per capita from 1974 to 2014. (Round your responses to two decimal places.) Annual Growth in Real Real GDP Real GDP GDP per Capita per Capita per Capita Country in 1974 in 2014 1974-2014 United States $25,602 $51,056 2.49% El Salvador 2,884 3,785 % Republic of South Africa 6,214 8,446 % Cambodia 157 959 % Russia 7,192 11,724 % All values are in 2010 U.S. dollars. Source: United States Department of Agriculture. Which country's growth is consistent with convergence theory? O A. Cambodia. O B. Republic of South Africa. O C. El Salvador. O D. None of the countries have growth consistent with convergence theory. Click to select your answer(s) and then click Check

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!