What is the result of differences in sustained economic growth rates over time?
a. Countries will eventually become economically equal.
b. Some countries will become richer than others over time.
c. Countries will stay at their current approximate levels of wealth.
d. The differences between the wealth of countries will shrink, but not disappear.
b. Some countries will become richer than others over time.
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What will be an ideal response?
Ceteris paribus, an increase in consumers' income will result in: a. a decrease in demand for an inferior good
b. an increase in demand for an inferior good. c. a decrease in the quantity supplied of an inferior good. d. an increase in the quantity supplied of an inferior good.
Losses
What will be an ideal response?
Which of the lines represent the structural stagnation's assumption about trend growth?
A. 3 percent trend B. 2.25 percent trend C. Actual D. It is not represented