Refer to Table 11-5. Consider the statistics in the table above in describing the industrialized countries. Are these consistent with the economic growth model? Briefly explain
What will be an ideal response?
These statistics for selected industrial economies are consistent with the economic growth model. The countries with the lowest levels of real GDP per capita in 1960 had the fastest growth rates between 1960 and 2000. The countries with the highest levels of real GDP per capita had the slowest growth rates.
You might also like to view...
If in 2016, a woman made $50,000 on the job, $20,000 from a consulting business she operated, and $25,000 in dividends on stock she owned, she would owe old-age Social Security taxes on
A. $50,000. B. $87,000. C. $70,000. D. $95,000.
Based on the above figure, up to which level of output will Ike's Ice Cream Kitchen have increasing marginal returns?
A) only at 0 gallons B) up to 10 gallons C) up to 40 gallons D) up to 60 gallons
As quantity increases, which of the following must be true if average total costs are rising? a. Marginal cost must be greater than average total cost
b. Marginal cost must be less than average total cost. c. Average fixed cost must be increasing. d. Average fixed cost must be less than average variable cost.
The foreign exchange rate can be influenced by the Federal Reserve
a. True b. False