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The factors that led a country to its current economic level

The factors that led a country to its current economic level

The factors that led a country to its current economic level:

A. may be related to those that can lead to future growth.

B. may not be related to those that can lead to future growth.

C. can typically be identified by economists and policy makers.

D. All of these are true.

93.Exploiting a nonrenewable natural resource is likely to:

A. lead to a higher level of income for a country.

B. lead to a sustainable high rate of growth in income for a country.

C. create more productive workers in all facets of the economy.

D. All of these are true.

94.Altering the demographic of your workforce in a manner that increases the labor force, like raising a legal minimum retirement age, is likely to:

A. lead to a higher level of income for a country.

B. lead to a sustainable high rate of growth in income for a country.

C. create more productive workers in all facets of the economy.

D. All of these are true.

95.Often, improvements in technology:

A. can lead to more improvements in technology.

B. can lead to sustainable rates of growth in income for a country.

C. can continuously increase the productivity of workers.

D. All of these are true.

96.Computing capacity has approximately:

A. doubled every two years since the invention of computers.

B. tripled every two years since the invention of computers.

C. doubled every five years since the invention of computers.

D. tripled every three years since the invention of computers.

97.A phenomenon called Moore's law says:

A. computing capacity has doubled every two years.

B. physical capital will double every two years in countries with high rates of growth.

C. 70 divided by the growth rate equals how long it will take a country to double its income level.

D. 70 divided by the growth rate equals how long it will take a country to double its productive capacity.

98.The convergence theory is also known as:

A. the catch-up effect.

B. Say's law.

C. the income effect.

D. Moore's law.

99.The convergence theory states that:

A. poorer countries will grow faster than rich ones.

B. rich countries will grow faster than poor ones.

C. poor countries tend to converge together and stagnate.

D. rich countries tend to leapfrog ahead maintaining the gap in global development.

100.The convergence theory suggests:

A. that poorer countries will grow faster than rich ones.

B. all countries eventually will experience the same rate of growth.

C. countries may have the same rate of growth but differing levels of income.

D. All of these are true.

abhinav behal 15-Feb-2020

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