Balanced Growth Paths Can Differ Across Countries Due to Differences

question 33

Multiple Choice

Balanced growth paths can differ across countries due to differences in saving rates,labour force growth rates,and the rates of labour-augmenting technological change.These differences are likely to result in differences in ________,a common measure of the standard of living.

• A) happiness
• B) life expectancy
• C) income distribution
• D) real GDP per capita

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Definitions:

Flynn Effect

The observation that IQ scores have increased over the past century in many parts of the world, suggesting improvements in education, nutrition, and other factors.

Industrialized World

Countries or societies that have undergone industrialization, characterized by advanced technological development and manufacturing capabilities.

IQ Test Performance

The measure of an individual's cognitive abilities as assessed by standardized intelligence testing.

Identical Twins

Twins that develop from a single fertilized egg that splits and forms two embryos, sharing 100% of their DNA.