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a) Use the following information to determine whether there is evidence of relative converge, absolute convergence, or both. GDP per GDP per capita in 2013 Country capita in 2005 Fraggle Rock U.S.A $54,000 $70,000 $35,000 $52,000 b) True or False? If there is absolute convergence, then there is relative convergence as well.

a) Use the following information to determine whether there is evidence of relative converge, absolute convergence, or both. GDP per GDP per capita in 2013 Country capita in 2005 Fraggle Rock U.S.A $54,000 $70,000 $35,000 $52,000 b) True or False? If there is absolute convergence, then there is relative convergence as well.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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a) Use the following information to determine whether there is evidence of relative converge, absolute convergence, or both. GDP per GDP per capita in 2013 Country capita in 2005 Fraggle Rock U.S.A $54,000 $70,000 $35,000 $52,000 b) True or False? If there is absolute convergence, then there is relative convergence as well.
Transcribed Image Text:a) Use the following information to determine whether there is evidence of relative converge, absolute convergence, or both. GDP per GDP per capita in 2013 Country capita in 2005 Fraggle Rock U.S.A $54,000 $70,000 $35,000 $52,000 b) True or False? If there is absolute convergence, then there is relative convergence as well.
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