Which of the Following Statements Accurately Describes Catch-Up Growth

question 26

Multiple Choice

Which of the following statements accurately describes catch-up growth?

• A)In one generation, China will be one of the richest countries in the world, if China's GDP per person continues to grow 9% per year.
• B)In one generation, Zimbabwe will be one of middle-income countries, since Zimbabwe's per person GDP fell by 27% in the last couple of decades.
• C)In one generation, even if China's GDP per person will decline 9% per year, China will remain one of richest countries in the world.
• D)In one generation, Zimbabwe will be the world richest country, since Zimbabwe's per person GDP grew 9% in the last couple of decades.

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Definitions:

Stagflation

An economic condition characterized by slow economic growth, high unemployment, and high inflation.

Eisenhower Administration

The executive leadership period in the United States under President Dwight D. Eisenhower, from 1953 to 1961, noted for moderate domestic policies and significant infrastructure projects.

Reagan Years

The period during which Ronald Reagan served as President of the United States, from 1981 to 1989, noted for economic policies that emphasized tax cuts, deregulation, and controlled government spending.

Medicare and Medicaid

Medicare and Medicaid are U.S. government programs that provide medical and health-related services to specific groups of people, including the elderly, disabled, and individuals with low income.