09-03-2009 113148 PM

09-03-2009 113148 PM - growth is lower in the poorer...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
21) If a richer country GDP per capita grows at a-faster annual rate than a poorer one 21) A) the gap between their standards of living will widen over time. B) the gap between their standards of living will close over time. C) the gap between their standards of living will close over time as long as the rate of population growth is higher in the poorer country. D) the difference in their living standards will not change over time. E) whether the gap in living standards widens or closes over time depends on the absolute size of the relative growth rates. 22) If a richer country's GDP grows at the same annual rate as a poorer country the 22) I/ A) gap between their standards of living will close over time as long as the rate of population growth is lower in the richer country. B) gap between their standards of living will widen over time. C) gap between their standards of living will close over time. D) gap between their standards of living will close over time as long as the rate of population
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: growth is lower in the poorer country. E) difference in their living standards will not change over time. 23) Over the long term, by far the most potent force for raising living standards is 23) A) increasing the money supply. B) reducing inefficiencies. C) economic growth. D) redistributing income. E) appropriate fiscal policies. 24) For a nation to achieve a more rapid rate of economic growth, its citizens must be willing tc 24) A) decrease interest rates. B) redistribute income. C) pay more taxes. D) sacrifice some present consumption. E) increase their demand for goods and services. 25) The benefits of economic growth include 25) A) decreased current saving and increased current consumption." B) increased nominal GDP and constant real GDP. C) ability to reduce inequality. D) decreased productive capacity. E) increased future interest rates....
View Full Document

This note was uploaded on 01/15/2012 for the course ECON 104 taught by Professor Peter during the Summer '09 term at Camosun College.

Ask a homework question - tutors are online