Empirical evidence from 1960 to 2011 shows that convergence in economic growth is occurring in which of the following cases?
A) Low-income developing countries are catching up to high-income industrial countries.
B) Low-income industrial countries are catching up to high-income industrial countries.
C) Low-income industrial countries are catching up to high-income developing countries.
D) All low-income countries are catching up to all high-income countries.
B
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Jeff holds $50,000 wealth which has a utility of 7.07 utils (assuming utility is the square root of wealth in thousand dollars). He considers investing this in a gamble which has a 0.6 probability of increasing his total wealth to $100,000 and 0.4 probability of decreasing it to $30,000 . What will be Jeff's expected utility from the gamble?
a. 15 utils b. 8.19 utils c. 3.2 utils d. 12.12 utils
If the Fed wants to increase AD, it should do which of the following?
A. Conduct open market purchases. B. Raise the discount rate. C. Lower capital gains tax rates. D. Raise the required reserve ratio.