Countries with different initial levels of per capita income may gravitate to a similar level of per capita income. Economists call this phenomenon ________

A) convergence
B) simulation
C) gravitation
D) depreciation


A

Economics

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The structure of an organization is influenced by transactions costs

Indicate whether the statement is true or false

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Economists and others use economic theory

a. only to analyze situations in which money changes hands. b. as a partial basis for public policy recommendations. c. to confuse their enemies. d. to replace value judgments about important policy issues.

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What do you mean by Coase theorem?

What will be an ideal response?

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Refer to the information provided in Figure 2.4 below to answer the question(s) that follow. Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars

A. remains constant. B. decreases. C. initially increases, then decreases. D. increases.

Economics