Unconditional convergence means that in the long run
A) living standards converge only within groups of countries having similar characteristics.
B) living standards converge only for countries that have the same initial capital-labour ratio.
C) living standards around the world become the same.
D) differences persist in living standards around the world.
Correct Answer:
Verified
Q42: A productivity improvement raises steady-state output and
Q43: How does the possibility of international trade
Q44: Which of the following changes would lead
Q45: All else being equal,a permanent decrease in
Q48: In the long run,a productivity improvement will
Q49: Conditional convergence means that in the long
Q50: One effect of the Gulf War was
Q51: In the long run,an increase in the
Q52: Which of the following arguments would you
Q77: In the very long run,the level of
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