Indicate which economy satisfies each of the following statements.

Statement:
1. This economy had the highest level of real income per person in the year 2010.
- Australia [ ]
- Central African Republic [ ]
- Finland [ ]
- Ireland [ ]
- Pakistan [ ]
- Thailand [ ]

2. This economy experienced the fastest rate of growth in real income per person from 1960 to 2010.
- Australia [ ]
- Central African Republic [ ]
- Finland [ ]
- Ireland [ ]
- Pakistan [ ]
- Thailand [ ]

Consider the following four nations listed below. Which economy started 1960 with a level of real income per person below that of Finland and grew fast enough to catch up with and surpass Finland's real income per person by 2010?
- Australia [ ]
- Ireland [ ]



Answer :

Based on the provided information and assuming that the economies listed below are considered within this context:

1. This economy had the highest level of real income per person in the year 2010:

Given the countries listed (Australia, Central African Republic, Finland, Ireland, Pakistan, Thailand), the country that had the highest level of real income per person in 2010 typically would be:

- Australia (✓)

Australia is often known for having a high standard of living and a high level of real income per person.

2. This economy experienced the fastest rate of growth in real income per person from 1960 to 2010:

The country that experienced the fastest growth in real income per person over this period would be:

- Ireland (✓)

Ireland is well known for its significant economic growth during this period, especially during the Celtic Tiger era.

3. Consider the following four nations listed, which economy started 1960 with a level of real income per person below that of Finland and grew fast enough to catch up with and surpass Finland's real income per person by 2010:

Among the options provided (Australia, Ireland), the correct answer would be:

- Ireland (✓)

Ireland started the period with lower real income per person compared to Finland but experienced rapid economic growth, catching up with and even surpassing Finland by 2010.