Suppose GDP in a richer country is growing at the same annual rate as in a poorer country.An implication of these growth rates is that the
A) gap between their standards of living will widen over time.
B) gap between their standards of living will close over time.
C) gap between their standards of living will close over time as long as the rate of population growth is lower in the poorer country.
D) gap between their standards of living will close over time as long as the rate of population growth is lower in the richer country.
E) difference in their living standards will not change over time.
Correct Answer:
Verified
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
Q12: Between the years 1960 and 2017,the Canadian
Q14: Which of the following is a common
Q15: Over the long term,by far the most
Q16: In the long run,changes in average material
Q17: Which of the following is a common
Q18: 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