Which statement best explains convergence?
a. Some low-income economies around the world have shown a pattern of convergence, in which their economies grow faster than those of middle-income countries.
b. Some middle-income economies around the world have shown a pattern of convergence, in which their economies grow faster than those of low-income countries.
c. Some low-income and middle-income economies around the world have shown a pattern of convergence, in which their economies grow faster than those of high-income countries.
d. Some high-income economies around the world have shown a pattern of convergence, in which their economies grow faster than those of low-income and middle-income countries.
c. Some low-income and middle-income economies around the world have shown a pattern of convergence, in which their economies grow faster than those of high-income countries.
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A decrease in the discount rate will
A) have an unclear effect on the money supply. B) decrease the money supply. C) increase the money supply. D) not affect the money supply.
During a period of economic expansion, when expected profitability is high,
A) the demand curve for bonds shifts to the left. B) the supply curve of bonds shifts to the right. C) the equilibrium interest rate falls. D) the equilibrium price of bonds rises.