The notion of conditional convergence states that two countries that have the same population growth and access to the same level of technology will reach a steady-state equilibrium at
A. different levels of output but the same growth rate, if their savings rates are different
B. different levels of output and different economic growth rates if their savings rates are different
C. the same level of output and the same economic growth rate, even if their savings rates are different
D. the same level of output but different economic growth rates if their savings rates are different
E. the same level of output and the same economic growth rate if their savings rates are the same but their rates of depreciation differ
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Which of the following is NOT an important factor in establishing high growth in GDP per capita for a country?
A. a stable monetary growth rate
B. a high savings rate
C. low population growth
D. a predictable economic and political environment
E. policies to encourage industries to compete in world markets
Which of the following policy options is likely to be most successful in getting a poor country out of the poverty trap?
A. expansionary fiscal policy
B. expansionary monetary policy
C. labor market policies
D. programs to limit population growth
E. investment subsidies
Countries can achieve continued economic growth as long as
A. technological advances continue
B. educational progress continues
C. intelligent resource management is practiced
D. all of the above
E. only A) and B)
Robert Barro's empirical findings that countries with higher levels of investment will achieve a steady state with a higher per-capita income but not with a higher growth rate supports
A. the notion of absolute convergence
B. the notion of conditional convergence
C. the predictions of the endogenous growth theory
D. the belief that a high savings rate is not beneficial for any nation
E. the belief that technology is not very important
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