Convergence of output per capita across countries has come from
A) a convergence of saving rates.
B) a convergence of the accumulation of capital.
C) higher technological progress from the countries that started behind.
D) all of the above
C
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Explain which of the following items are not consumption goods and services:
What will be an ideal response?
It is possible to have an absolute advantage in producing a good or service without having a comparative advantage
Indicate whether the statement is true or false
Veruca sells therapeutic bath salts on the Internet. Her annual revenue is $52,000 per year, the explicit costs of her business are $14,000, and the opportunity costs of her business are $17,000 per year
What are the implicit costs of her business? A) $14,000 B) $17,000 C) $21,000 D) $31,000
If population is expanding at the same rate as a country's real output: a. real per capita output would increase
b. real per capita output would remain unchanged. c. the production possibilities curve for the country as a whole will be shifting outward. d. both (b) and (c) would be true.