Which of the Following Is a Main Conclusion About Growth

question 44

Multiple Choice

Which of the following is a main conclusion about growth for OECD countries and the four rich countries examined in the chapter?

• A)There has been a large increase in the standard of living since 1950.
• B)The growth rates have decreased since the mid-1970s.
• C)There has been a convergence of output per capita since 1950.
• D)all of the above
• E) none of the above

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Definitions:

Valid Defense

A legally acceptable reason or argument presented in a court to counter the allegations made in a lawsuit.

Liability

The state of being responsible for something, especially in terms of a legal or financial obligation.

Right of Recourse

The legal right to demand compensation or payment from a third party after fulfilling an obligation, especially in financial transactions.

Discharge

(1) The termination of an obligation, such as occurs when the parties to a contract have fully performed their contractual obligations. (2) The termination of a bankruptcy debtor’s obligation to pay debts.