Empirical evidence from 1960 to 2011 shows that convergence in economic growth is occurring in which of the following cases?
A) Low-income developing countries are catching up to high-income industrial countries.
B) Low-income industrial countries are catching up to high-income industrial countries.
C) Low-income industrial countries are catching up to high-income developing countries.
D) All low-income countries are catching up to all high-income countries.
B
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Use the following supply and demand graph to answer the question below.
S1 and D1 represent the current market supply and demand, respectively. S2 and D2 represent the socially optimal supply and demand. The positions of the graphs indicate that there is (are) external
A. benefits from production and external costs from consumption of the product. B. costs from production and external benefits from consumption of the product. C. costs from production and consumption of the product. D. benefits from production and consumption of the product.
Economic growth tends to be higher in a country that
A) has an open economy that encourages the rapid spread of technology. B) does not grant patents to investors. C) has a low saving rate. D) has an undeveloped system of property rights.
When the price level rises there is a ________ the aggregate demand curve
A) movement down along B) rotation of C) rightward shift of D) leftward shift of E) movement up along
Graphically express a direct and an inverse or negative relationship. What could cause a shift in a line or curve expressing a relationship between two variables?