"Convergence" Has Been Occurring Among the OECD Countries Because

question 30

Multiple Choice

"Convergence" has been occurring among the OECD countries because

• A)the richer countries give away more of their output than the poorer ones.
• B)the poorer countries have had higher growth rates than the richer ones.
• C)the richer countries have had higher growth rates than the poorer ones.
• D)the poorer countries have had positive growth rates, while the richer ones have had negative growth rates.
• E) the procedures for measuring output per capita have been changing.

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Definitions:

Microeconomics

The branch of economics that focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, market equilibriums, and the effect of government regulations.

Individual Industries

Specific sectors of the economy focused on the production of certain types of goods or services.

Decision-Making Units

Groups or individuals within an organization that have the authority and responsibility to make choices that affect organizational outcomes.

Positive Economics

An approach to economics that seeks to understand behavior and the operation of systems without making judgments. It describes what exists and how it works.