Small? percentage-point differences in growth rates lead to _______ differences in per capita real GDP over time.

Which of the following statements correctly highlights a difference between countries with extractive economic institutions and countries with inclusive economic institutions?

A) Countries with extractive economic institutions typically have better geographical conditions that countries with inclusive economic institutions. B) Countries with extractive economic institutions typically have worse geographical conditions that countries with inclusive economic institutions. C) Entry barriers for new businesses are likely to be lower in countries with extractive economic institutions than in countries with inclusive economic institutions. D) Entry barriers for new businesses are likely to be higher in countries with extractive economic institutions than in countries with inclusive economic institutions.

Inflation reduces the ability of money to function as a

A) medium of exchange. B) medium of value. C) unit of account. D) store of value.