Identify the correct statement.
a. Between the 1960s and the 1990s, per capita GDPs grew faster in nonglobalizing countries.
b. Between the 1960s and the 1990s, per capita GDPs grew faster in globalizing countries than in industrialized countries.
c. Between the 1960s and the 1990s, per capita GDP growth rates in the industrialized world increased.
d. Between the 1960s and the 1990s, per capita GDP in the industrialized world decreased.
e. Between the 1960s and the 1990s, per capita GDP in all developing countries increased.
Question 2
Which of the following is (are) true when one firm's research and production can increase another firm's access to technological advances?
a. It is called a technology spillover.
b. Other firms will imitate and improve on the new knowledge.
c. If there is no subsidy, the market equilibrium output level is less than the efficient equilibrium output level.
d. All of the above.
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