The World Bank projects that the world's population will increase from 7 billion today to 8 billion in 2025. World output today is roughly $80 trillion.
Instructions: Round your first two answers to the nearest whole number.
(a) What is global per capita income today? $
(b) What will per capita income be in 2025 if the world's economy doesn't grow? $
(c) By what percentage must the world economy grow by 2025 to maintain current living standards?
Instructions: Round your answer to two decimal places.
Percent