The convergence hypothesis states that international differences in real GDP per capita tend to _____ over time.

A. diverge
B. fluctuate
C. remain constant
D. narrow


Ans: D. narrow

Economics

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In industrywide advertising, managers have an incentive to ________ and ________ for the advertising.

A) free -ride; not pay B) franchise; pay C) franchise; not pay D) free -ride; pay

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Growth accounting is seen a useful way to estimate this inputs contribution to growth:

A. technology. B. physical capital. C. labor. D. land.

Economics

Economics is best defined as the study of:

A. supply and demand. B. the financial concerns of businesses and individuals. C. inflation, interest rates and the stock market. D. how people make choices in the face of scarcity and the implications of those choices for society as a whole.

Economics

Since the year 1959, the poverty rate has

A. increased very slightly. B. increased significantly. C. decreased significantly. D. remained almost unchanged.

Economics