According to this Application, based on the analysis of the sources of growth in China and India, and assuming that nothing changes, it can be concluded that
A) there is convergence between the nations in Asia.
B) China's reliance on technology for economic growth makes it less likely to keep pace with the growth rate in India.
C) India's long-term growth prospects are not as strong those for China.
D) the growth rate in China should significantly slow down in the near future, but the growth rate in India will continue to rapidly increase in the near and distant future.
C
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What is the difference between nominal variables and real variables? Discuss the calculations undertaken to determine the real wage rate and the real interest rate. Explain why the real wage rate and real interest rate are real variables
What will be an ideal response?
In economics, money refers to
A) income. B) wealth. C) assets used and accepted as payment. D) currency.
If a dollar is more expensive in terms of a foreign currency than the equilibrium exchange rate, a ____ exists at the current exchange rate that will put ____ pressure on the exchange value of a dollar
a. surplus of dollars; downward b. surplus of dollars; upward c. shortage of dollars; downward d. shortage of dollars; upward
If a firm is experiencing diminishing marginal returns to labor, then
a. total output must be decreasing b. total output rises more slowly as additional workers are added c. the firm must decrease the amount of labor it hires d. total output per worker must be rising e. the firm must be operating in the long run