If per capita GDP in a richer country grows at a faster annual rate than in a poorer country,
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) whether the gap in living standards widens or closes over time depends on the absolute size of the relative growth rates.
D) the gap between their standards of living will widen over time.
E) the difference in their living standards will not change over time.
Correct Answer:
Verified
Q41: In Neoclassical growth theory, increasing the amount
Q42: Which of the following statements concerning national
Q43: current increases in investment may only generate
Q44: Consider a closed economy in the long
Q45: In the long run, an increase in
Q47: According to the "new" theories of economic
Q48: An example of "embodied technical change" is
A)better
Q49: Consider the aggregate production function Y =
Q50: The four fundamental determinants of economic growth
Q51: Consider the Neoclassical growth model. The effect
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