Nations with low levels of GDP per capita may converge to richer nations if:
A. nations with high levels of income experience a continuously increasing growth rate.
B. nations with lower levels of income grow more quickly than those with higher levels of income.
C. nations with lower levels of income spend less on investment.
D. nations with lower levels of income grow more slowly than those with higher levels of income.
Answer: B
You might also like to view...
According to new growth theory, firms accumulate the efficient level of both physical and knowledge capital
Indicate whether the statement is true or false
Suppose there is proposed legislation that would subsidize the domestic commercial aircraft manufacturing industry in the U.S., to be funded with a new 1 percent national sales tax. Which of the following categories best fits this proposed legislation?
a. Traditional public goods legislation b. Special-interest legislation c. Competing-interest legislation d. Populist legislation
If two airlines wish to merge, they must seek permission of the
A. Agency for International Air Traffic. B. Federal Anti-Trust Agency. C. Federal Trade Commission. D. Federal Communications Commission.
Social demand equals market demand minus externalities when there are external benefits.
Answer the following statement true (T) or false (F)