Which of the following is correct?

A. Countries with the highest growth rates over the last 120 years are the ones that had the highest level of real GDP 120 years ago.

B. Most countries have had little fluctuation around their average growth rates during the past 120 years.

C. The ranking of countries by income changes little over time.

D. Even though Japan had a higher growth rate of real GDP per person than the U. S. over the last 120 years, it's level of real GDP per person is less than that of the U. S.

Question

Gabriel Noble

Business

6 July, 02:08

Which of the following is correct?

A. Countries with the highest growth rates over the last 120 years are the ones that had the highest level of real GDP 120 years ago.

B. Most countries have had little fluctuation around their average growth rates during the past 120 years.

C. The ranking of countries by income changes little over time.

D. Even though Japan had a higher growth rate of real GDP per person than the U. S. over the last 120 years, it's level of real GDP per person is less than that of the U. S.

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Answers (1)

Know the Answer?

Cora Osborn · Answer 1

N. Most countries have had little fluctuation around their average growth rates during the past 120 years.

Explanation:

" Both measures reveal the same thing: between 1960 and the late-1990s, there was a widening of the world income distribution, at least when each country is a unit of observation. In the last decade or so, this pattern seems to have stabilized"

Reference: Jones, C. I. (2016). The facts of economic growth. In Handbook of macroeconomics (Vol. 2, pp. 3-69). Elsevier. p. 37