The Economic Theory That States That as Time Passes, Economic

question 82

Multiple Choice

The economic theory that states that as time passes, economic systems become much more similar, with common rates of growth, common employment levels and common rates of inflation is known as

• A)divergence theory
• B)parallel path theory
• C)convergence theory
• D)non-competing economic systems theory
• E)static state theory

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Definitions:

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time.

Primarily Liable

Primarily liable refers to the party that is first and foremost responsible for fulfilling an obligation or compensating for a liability.

Secondarily Liable

Secondarily liable refers to a party's obligation to pay a debt or perform a duty if the primary party responsible fails to do so.

Reacquired

Refers to buying back previously sold or issued shares of a company's own stock or previously owned assets.