The convergence theory states that:
A. poorer countries will grow faster than rich ones.
B. rich countries will grow faster than poor ones.
C. poor countries tend to converge together and stagnate.
D. rich countries tend to leapfrog ahead maintaining the gap in global development.
A. poorer countries will grow faster than rich ones.
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The fundamental reason to study economics is to study
a. how choices are made. b. how production is determined. c. how countries trade with each other. d. how finances are determined.
What role did the Reconstruction Finance Corporation play in the banking collapse of the early 1930s?
a. It provided loans to troubled banks. b. It provided insurance for consumer deposits. c. Its new regulations forced undercapitalized banks out of business. d. Its failure sparked a widespread run on bank deposits.
Everyone in an economy tends to do better when we experience:
A. steady economic growth, high unemployment, and stable prices. B. steady economic growth, low unemployment, and stable prices. C. high economic growth, low unemployment, and high inflation. D. high economic growth, high unemployment, and low inflation.
Why would people outside the United States choose to hold dollars?
What will be an ideal response?