Over the past 10 years, the average growth rate in real GDP has been 2 to 3 times greater in India than in the United States. What does this indicate about the difference in the level of income in India and the United States over the past 10 years
What will be an ideal response?
Since the average growth rate in real GDP is greater in India than in the United States, the difference in the level of income in these countries over the past 10 years has been getting smaller.
Economics
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When national output rises, the economy is said to be in
A) an expansion. B) a deflation. C) an inflation. D) a recession.
Economics
During a recession:
a. Net exports tend to rise. b. Consumption tends to rise. c. Net exports remain unchanged. d. Businesses tend to invest more in new plant and equipment. e. Inventories tend to fall as businesses sell them off.
Economics