Recently, countries with higher per capita income have tended to have
A. higher GDP growth rates than poor countries
B. lower GDP growth rates than poor countries
C. negative GDP growth rates
D. no tendency to grow faster or slower than poor countries
Answer: D. no tendency to grow faster or slower than poor countries
You might also like to view...
Suppose that if the price of plane tickets increased, more people would choose to travel by train. If this happened, you would know that:
A. plane tickets and train tickets are complements. B. plane tickets are an inferior good. C. the cross-price elasticity between plane tickets and train tickets is negative. D. the cross-price elasticity between plane tickets and train tickets is positive.
If a salesperson is paid by the volume of sales he or she makes, then the
A) moral hazard problem is diminished. B) moral hazard problem is enhanced. C) adverse selection problem is enhanced. D) None of the above answers is correct.
Which of the following is not a characteristic of monopolistically competitive firms in the long run:
A. firms earns zero profits B. each firm maximizes profits. C. firms charge a price above marginal cost. D. there is no deadweight loss.
Quantitative easing occurs when a nation’s central bank uses monetary policy to: