According to the convergence hypothesis, countries with rapid GDP growth
A. are heavily industrialized.
B. are market-based economies.
C. are likely to be imitating technologies, rather than innovating technologies.
D. higher levels of natural resource endowments.
Answer: C
You might also like to view...
In the short run, when the Fed increases the quantity of money, the
A) quantity demanded of money decreases. B) demand for money increases. C) nominal interest rate falls. D) demand for money decreases. E) price level decreases.
In a competitive market economy, a resource in short supply will be allocated
a. so that each firm gets enough to keep producing some portion of its output. b. according to how much each firm purchased before the shortage. c. to those firms that can make the most profitable use of it. d. by government regulation.
A price ceiling caused the gasoline shortage of 1973 in the United States
a. True b. False Indicate whether the statement is true or false
An industry in which an increase in output leads to a reduction in long-run per-unit costs is a(n)
A) increasing-cost industry. B) constant-cost industry. C) break-even cost industry. D) decreasing-cost industry.