Question

Which of the following is correct?

A. Countries with the highest growth rates over the last 120 years are the ones that had the highest level of real GDP 120 years ago.
B. Most countries have had little fluctuation around their average growth rates during the past 120 years.
C. The ranking of countries by income changes little over time.
D. Even though Japan had a higher growth rate of real GDP per person than the U.S. over the last 120 years, it’s level of real GDP per person is less than that of the U.S.

Answer 1

Answer:

N. Most countries have had little fluctuation around their average growth rates during the past 120 years.

Explanation:

" Both measures reveal the same thing: between 1960 and the late-1990s, there was a widening of the world income distribution, at least when each country is a unit of observation. In the last decade or so, this pattern seems to have stabilized"

Reference: Jones, C. I. (2016). The facts of economic growth. In Handbook of macroeconomics (Vol. 2, pp. 3-69). Elsevier. p. 37

Answer 2

The correct statement is that most countries have had little fluctuation around their average growth rates during the past 120 years.

What is economic growth rates?

An economic growth rate refers to the percentage change in the value of all of the goods and services made in a nation during a limited period of time, with, examined to an earlier period.

In nations with economies that are to a great extent dependent on foreign earnings, gross national product (GNP) may be used.

Example:

• Growth rate shows the difference between GDP values from one period to the adjacent period as a proportion of the GDP from the earliest period, and are usually multiplied by 100.

• Large indefinite amount of countries had small fluctuation around their average growth rates during the past 120 years.

Therefore, option B is correct.

Learn more about growth rate, refer:

https://brainly.com/question/13870574