Suppose China’s GDP is growing by 7% a year and its population grows by 1% a year. Also suppose that US GDP grows by 3% a year and its population grows by 1% a year, and that in 2019 US GDP is 1.5 times China’s while US population is one quarter of China’s. If these growth rates continue By what year will China’s GDP double? Its population? Its per capita GDP? In what year will China’s GDP equal US GDP?

Suppose China’s GDP is growing by 7% a year and its population grows by 1% a year. Also suppose that US GDP grows by 3% a year and its population grows by 1% a year, and that in 2019 US GDP is 1.5 times China’s while US population is one quarter of China’s. If these growth rates continue By what year will China’s GDP double? Its population? Its per capita GDP? In what year will China’s GDP equal US GDP?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 3P

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