If GDP in a Richer Country Grows at the Same

question 63

Multiple Choice

If GDP in a richer country grows at the same annual rate as in a poorer country,the

• A)gap between their standards of living will widen over time.
• B)gap between their standards of living will close over time.
• C)gap between their standards of living will close over time as long as the rate of population growth is lower in the poorer country.
• D)gap between their standards of living will close over time as long as the rate of population growth is lower in the richer country.
• E)difference in their living standards will not change over time.

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Definitions:

Nonrefundable Ticket

A ticket purchase that cannot be returned for a refund, often cheaper than refundable options and common in air travel.

Remainder

The amount left over or remaining after division or allocation.

Alternative

An option or choice that is available as a substitute or replacement for something else.

Market Supply Curve

A graphical representation showing the total quantity of a good that producers are willing to sell at various prices within a given time period.