If a nation with a low level of GDP per capita converges to a richer nation, the poor nation
A) enters into a free trade agreement with the richer nation.
B) experiences low growth rates.
C) experiences a rate of high growth such that its GDP per capita increases to that of the richer nation.
D) experiences a rate of low growth such that its GDP per capita increases to that of the richer nation.
C
Economics
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When the required reserve ratio is 15% and a banks deposits are $100 million, the bank is required to put $1 million into required reserves
a. true b. false
Economics
In Figure 4-6 above, suppose we are initially at point 2. A reduction in government spending causes income to change by ________ and the interest rate to change by ________ than would be the case in the Chapter 3 model
A) more, more B) more, less C) less, more D) less, less
Economics