Question

Relatively small differences in the growth rate of per-capita real GDP translate into_________.

Answer 1

Relatively small differences in the growth rate of per-capita real GDP can have a significant impact over time.

Step-by-step explanation:

Relatively small differences in the growth rate of per-capita real GDP can have a significant impact over time.

For example, an economy growing at a 1% annual rate over 50 years will see its per-capita GDP rise by 64%, while a country growing at a 5% annual rate will achieve almost the same growth in just 10 years.

This highlights the compounding effect of sustained economic growth.