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Economics
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Economics
Which of the following statements is true ?
A
Countries all have the same growth rate and level of output because any country can obtain the same factors of production
Option A
Countries have great variance in both the level and growth rate of GDP/person thus poor countries can become relatively rich over time
Correct answer
C
Countries may have different level of GDP/person but they all grow at the same reate
Option C
D
Countries may have a different growth rate but they all have the same level of GDP/person
Option D
Correct answer: B
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