In 1960, the Phillipines had a per capita income ________ South Korea. In 2010, ________.
A) lower than; this situation had reversed
B) lower than; per capita income was equal in both countries
C) equal to; South Korea had relatively higher per capita income
D) higher than; this situation had reversed
E) higher than; this difference was even more pronounced
Correct Answer:
Verified
Q3: Using the Solow model, if, in
Q4: The Solow model of economic growth:
A) endogenizes
Q5: The key insight in the Solow model
Q7: The Solow model describes:
A) how saving rates
Q8: In the corn farm example, saving some
Q9: If Ct denotes consumption, It denotes
Q11: In the Solow model, it is assumed
Q12: The production function used in the
Q13: In the Solow model, if investment is
Q18: In the simple Solow model, we assume:
A)
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