Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year and that real GDP per capita of China is $4,000, and its annual growth rate is 7%. How many years will it take for China's real GDP per capita to be larger than real GDP per capita in the United States

Given:

Real GDP of US = 32000

Growth rate of US = 2%

Real GDP of China = 4000

Growth rate of China = 7%

To find:

Number of years taken for China's real GDP per capita to be larger than real GDP per capita in the United States.

Solution:

The formula to calculate the years is,

On plugging-in the values,

On solving the values we get,

Therefore, we can clearly identify that number of years is greater than 40 and less than 45.

after cutting wages and benefits in order to increase profit .

apex~