Identify the main reason to expect convergence in the long run
a. Low-productivity countries learning from high-productivity countries
b. Rapid growth in the supply of capital in low-productivity countries
c. Educational attainment rising quickly in low-productivity countries
d. Economic complacency and mismanagement in high-productivity countries
a
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Suppose in year 1 the CPI is 90, in year 2 the CPI is 100, and in year 3 the CPI is 110. Then, inflation is
A) 11 percent between years 2 and 3. B) 11 percent between years 1 and 2. C) 100 percent in year 1. D) 10 percent between years 2 and 3. E) Both answers B and D are correct.
Which of the following is a benefit of affirmative action programs?
A) They ensure that qualified minorities are not being passed over in favor of less-qualified applicants. B) They ensure a fundamental sense of fairness in hiring and promotion. C) They can provide a means and an incentive for members of historically underperforming groups to intentionally change their characteristics, such as investing in education and acquiring experience. D) All of the above are benefits of affirmative action programs.