The Catch-Up Effect Can Help Explain

question 277

Multiple Choice

The catch-up effect can help explain

• A) the spectacular economic growth experienced by South Korea over the years 1960 to 1990.
• B) the spectacular economic growth experienced by the United States over the years 1960 to 1990.
• C) why the diminishing-returns property is no longer taken seriously by economists.
• D) why the World Bank is more inclined to encourage the flow of capital to advanced economies rather than to developing economies.

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Definitions:

Female Job Classes

Employment categories designated for or predominantly occupied by women, often discussed in the context of equal pay and job evaluation.

Labour Market Conditions

The dynamics of supply and demand for labor, including factors like unemployment rates, skill shortages, and economic trends affecting workforce availability and wages.

Performance System

An organized framework or method designed to assess, monitor, and enhance the performance of individuals or groups within an organization.

Job Re-Evaluation

The process of assessing and possibly modifying the importance, complexity, or value of a job in an organization, often to ensure fairness and accuracy in compensation.