Author Question: If a rich country grows at a faster rate than a poor one, then A) the gap in their standard of ... (Read 107 times)

mspears3 · **on:** Jun 29, 2018

If a rich country grows at a faster rate than a poor one, then

A) the gap in their standard of living will widen over time.
B) the gap in their standard of living will close over time.
C) the difference in their living standards will not change over time.
D) whether or not the living standards gap widens or closes over time depends on the absolute size of the relative growth rates.

Question 2

Last year the exchange rate between U.S. dollars and Mexican pesos was 10 pesos per dollar. Today is it 11 pesos per dollar. Here, the dollar ________ against the peso, and the peso ________ against the dollar

A) appreciated; depreciated
B) depreciated; appreciated
C) appreciated; appreciated
D) depreciated; depreciated