Suppose per capita GDP in a richer country is growing at a faster annual rate than in a poorer country.An implication of this difference in growth rates is that
A) the gap between their standards of living will close over time as long as the rate of population growth is higher in the poorer country.
B) the gap between their standards of living will close over time.
C) the difference in their living standards will not change over time.
D) the gap between their standards of living will widen over time.
E) whether the gap in living standards widens or closes over time depends on the absolute size of the relative growth rates.
Correct Answer:
Verified
Q1: Consider the following table for a hypothetical
Q2: Over a long period of time,perhaps many
Q3: Of the variables listed below,the best measure
Q4: The diagram below shows alternate paths for
Q6: Which of the following is implied by
Q7: If real income grows at approximately 4%
Q8: The diagram below shows alternate paths for
Q9: The diagram below shows alternate paths for
Q10: If real income grows at approximately 2%
Q11: Consider the following table for a hypothetical
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents