According to the convergence theory,
A)less-developed countries should grow faster than advanced ones because of the ability to copy new technology
B)the growth rates of all countries converge because in the long run, all resources are alike
C)human capital differences can never be made up
D)GDP and productivity growth rates should converge over time
E)the impact of basic and applied research should converge over time

Question

Quizplus · Accepted Answer

Convergence theory suggests that less-developed countries can grow faster than advanced ones by adopting existing technologies, allowing them to catch up economically.

According to the Convergence Theory