Convergence means that
A) if poor countries grow fast, then fast growing countries are poor.
B) all countries grow at the same rate.
C) all countries tend towards the same per capita income.
D) the savings rate is positively related to per capita income.
C
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When the Fed buys government securities, the immediate effect of the purchase is that banks'
A) reserves decrease. B) loans decrease. C) reserves increase. D) assets increase. E) deposits increase.
What is the main difference between common and preferred stocks?
a. Common stocks pay interest whereas preferred stocks pay dividends. b. Preferred stocks carry voting rights whereas common stocks do not carry voting rights. c. Preferred stocks pay a guaranteed dividend, while common stocks may or may not pay dividends. d. In case of bankruptcy, preferred stockholders have a right to the company's asset, whereas common stockholders do not have such rights. e. Common stocks can be converted into preferred stocks while preferred stocks cannot be converted into common stocks.