Between 2005 and 2006 the real income of a developing island rises from $120,000 to $160,000, while its population grows from 1,000 to 1,100. By about how much has real income per capita increased?
Correct answer B. $25
Explanation
Per capita income rises from 120,000 / 1,000 = $120 to 160,000 / 1,100, about $145, an increase of roughly $25 per person.
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