Because the Gap in Real GDP Per Capita Between Western

question 166

True/False

Because the gap in real GDP per capita between Western Europe, North America, and parts of Asia is widening, the convergence hypothesis is wrong.

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Definitions:

Swaps

Financial derivatives contracts where two parties agree to exchange one stream of cash flows for another, often used to manage risk or speculate.

Securities

Financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Currencies

Systems of money in common use, particularly for people in a nation.