Real per capita GDP:
A. grows at approximately the same rate for all countries.
B. was much more equal across nations in 1820 than it is today.
C. has been about 20 times higher in the richer nations than the poorer nations for about 2000
years.
D. grows much faster in "leader countries" than in "follower countries."
B. was much more equal across nations in 1820 than it is today
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Suppose that the equilibrium nominal interest rate is 5 percent and the equilibrium quantity of money is $1 trillion. At any interest rate below 5 percent,
A) the supply of money will decrease. B) there will be a surplus of money and bond prices will increase. C) the interest rate will fall and bond prices will fall. D) there will be a surplus of money and bond prices will fall. E) the interest rate will rise and bond prices will fall.
Globalization of resource markets has resulted in the business practice of off-shoring, which involves:
A. Only an outflow of jobs away from the U.S. B. No possible expansion of jobs in the U.S. C. Huge losses to consumers in the U.S. D. Both an outflow as well as an inflow of jobs in the U.S.