1. A country that has caught up with the United States in average living standards is

Japan.

China.

Russia.

None of the above.

2. If U.S. real GDP for the postwar period is plotted on a log (or ratio) scale, the plot for the years 1947-1972 is _______________ the plot for the years 1972-2022.

higher than

lower than

steeper than

Both b and c.