Author Question: Convergence refers to the movement of countries toward a. the same levels of per capita output ... (Read 68 times)

DelorasTo · **on:** Jun 30, 2018

Convergence refers to the movement of countries toward

a. the same levels of per capita output growth.
b. the same levels of per capita output.
c. a constant rate of output growth.
d. the same capital-to-labor ratios.
e. both b and d.

Question 2

The Smoot-Hawley Tariff Act of 1930 is thought to have contributed to the severity of the 1930s depression because of the rise in tariff rates and the consequential drop in private consumption, savings and investment.

Indicate whether the statement is true or false