Quiz 3 - Quiz 3 1. Convergence refers to a) poorer...

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Quiz 3 1. Convergence refers to a) poorer countries growing more rapidly than rich countries b) the reunification of formerly divided countries such as East and West Germany c) an equality between a country’s imports and exports d) an economy reaching a steady state e) agreement between economic historians of different political persuasions Answer a 2. During the 20 th century, convergence occurred most clearly a) between Africa and Asia b) between Bangladesh and Western Europe c) between Japan and South America d) between India and North America e) between Japan and US Answer e 3. If a country enjoys a higher saving rate, this causes: a) no change in real GDP b) higher long run output c) lower long run output d) lower tax revenues Answer b 4. The observation that poorer nations grow more rapidly than richer ones if they share the same steady state , and more slowly if they don’t, is known as a) conditional convergence b) spillover c) learning by doing d) the poverty trap e) the iron law of convergence Answer: a
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5. Tropical regions (centered near the equator) have grown at ………. .temperate
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This note was uploaded on 02/23/2010 for the course BUSINESS intb 3353 taught by Professor Prodon during the Spring '10 term at University of Houston.

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Quiz 3 - Quiz 3 1. Convergence refers to a) poorer...

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