According to convergence theory, countries that start out poor should initially grow:
A. faster than ones that start out rich, but will eventually slow to the same growth rate.
B. slower than ones that start out rich, but will eventually grow to the same growth rate.
C. faster than ones that start out rich, and will eventually surpass their level of income.
D. slower than ones that start out rich, and therefore will never reach a similar growth rate.
A. faster than ones that start out rich, but will eventually slow to the same growth rate.
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In the table above, y is measured along the y-axis and x along the x-axis. What is the value of the slope between the x = 8 and x = 6?
A) -0.057 B) -19.28 C) -35 D) 70
Explain the process by which prices of securities adjust so as to eliminate arbitrage profits
What will be an ideal response?
Television stations have seemingly synchronized their commercial breaks. This is likely an example of
A) tacit collusion. B) explicit collusion. C) mixed strategies. D) pure strategies.
A firm operating in a perfectly competitive market is a price taker because:
A. each firm has a significant market share. B. each firm's product is perceived as different. C. setting a price higher than the market price results in zero sales. D. the market demand curve is perfectly elastic.