There are two economies. At the beginning of Year 1, their real GDPs are equal. Economy A growsat a constant rate of 4%, while Economy B grows at a constant rate of 1%. Compute the ratio between the twoeconomies real GDP after 10 years, 20 years and 30 years.

Consider two countries, A and B. Country A has a real GDP per capita of $20 000. Country B has a real GDP per capita of $5000. If Country A grows at an average annual rate of 2% and Country B grows at an average annual rate of 8%, which of the following statements is correct?Group of answer choicesCountry B‘s real GDP will be greater than Country A’s real GDP after 20 yearsCountry B‘s real GDP will be greater than Country A’s real GDP after 10 yearsCountry B‘s real GDP will be less than Country A’s real GDP after 40 yearsCountry B‘s real GDP will be greater than Country A’s real GDP after 30 years

If a country's real GDP grows at 5% per year, how long will it take the real GDP to double?Group of answer choices10 years14 years20 years25 years

Suppose that a country has no growth in technology and that capital and labor hours are growing at the same rate. The capital in the country continues to grow at its previous rate while technology growth is still zero, but growth in labor hours falls to half its previous rate. What happens to growth in real GDP per hour of work?Growth rate of real GDP per hour of work = %

Suppose that real GDP per capita in Italy is $32,000. If real GDP per capita is growing at a rate of 2.5% per year, how many years will it take for real GDP per capita to reach $64,000? Instructions: Round your answer to 1 decimal place.  years

Economic growth has occurred if the:Group of answer choicesInflation rate between this year and last year is zero or less.GDP this year exceeds the real GDP this year.The unemployment rate this year is above the natural rate of unemployment.Real GDP this year exceeds the real GDP of last year.