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Convergence theory suggests that gaps in national incomes

david fabos

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Convergence theory suggests that gaps in national incomes

Question 1.

In Ansonia, real GDP increased by 9% and the population increased by 9% in 2017. In 2017, Ansonia experienced

▸ economic growth, but not an increase in living standards.

▸ economic growth and an increase in living standards.

▸ no economic growth, but an increase in living standards.

▸ no economic growth and no increase in living standards.

Question 2.

Convergence theory suggests that gaps in national incomes

▸ tend to close over time.

▸ widen over time.

▸ do not seem to change over time.

▸ are irrelevant in global economies.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

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anthead

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More solutions for this book are available here

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david fabos Author

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5 years ago

Thanks

bkrandy

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Good timing, thanks!

Goku935

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2 hours ago

Just got PERFECT on my quiz

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