1. Business
  2. Economics
  3. in 1870 the us had an average income of about...

Question: in 1870 the us had an average income of about...

Question details

In 1870, the U.S had an average income of about $2758 and the U.K of about $3463. In 1999, the figures were $30,600 and $22,640, respectively. If each country grew at a constant rate over these years, in which year did the U.S. overtake the U.K. in terms of average income?

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution