Which of the following is not correct?
A)Across countries there are large differences in the average income per person.These differences are reflected in large differences in the quality of life.
B)With a growth rate of about 2 percent per year,average income per person doubles about every 60 years.
C)The ranking of countries by average income changes substantially over time.
D)In some countries real income per person has changed very little over many years.

Question

Quizplus · Accepted Answer

A growth rate of about 2 percent per year would result in average income per person doubling approximately every 35 years, not 60 years, due to the rule of 70 (70 divided by the growth rate gives the doubling time).

Which of the Following Is Not Correct