Convergence theory suggests that gaps in ________ tend to close over time.Group of answer choicesnational incomepopulation levelsunemployment ratesinflation rates

Periods of unemployment leading into lower future earnings potential demonstrates the concept ofGroup of answer choicesIncome inequalityunemployment ratepoverty trappoverty gap

Convergence theory suggests that when less developed countries begin to develop, they typically have higher growth rates as they catch up with more developed nations.Group of answer choicesTrueFalse

“Demographic transition” theory predicts increased wealth/development in a society will tend to decrease population growth rates.Group of answer choicesTrueFalse

Which of the following is evidence consistent with the convergence hypothesis?Group of answer choicesA positive relationship between per capita income and the average rate of economic growthNo relationship between per capita income in some base year and the average rate of economic growth since the base yearA negative relationship between per capita income in some base year and the average rate of economic growth since the base yearA positive relationship between per capita income in some base year and the average rate of economic growth since the base year

Payments from the government for which there is no exchange of productive goods or services are called ______ payments and they tend to rise during a recession and fall during an economic expansion.wage or salaryprocyclicaltransferfactor