Over the past 50 years, many countries have experienced an annual growth rate in real
Chapter 20, Problem 22(choose chapter or problem)
Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan. Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of rate of growth of real GDP per capita? Explain.
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