The Catch-Up Prediction of Economic Growth Models Predicts That ________

question 208

Multiple Choice

The catch-up prediction of economic growth models predicts that ________ across countries will converge over time.

• A)income levels
• B)GDP per capita
• C)foreign direct investment rates
• D)growth rates

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Definitions:

Clothing Consumption

The action or process of purchasing and using clothing.

Budget Line

A visual chart showing every potential mix of two products that one can buy with a specific amount of money at constant prices.

Goods

Tangible items that satisfy human wants or needs, and that can be transferred from one person to another.

Income

The income earned, particularly consistently, from employment or investment returns.