Convergence is the idea that ________ will equalize across nations as they approach the steady state.
A) the level of education
B) the level of real gross domestic product (GDP)
C) the level of real gross domestic product (GDP)per capita
D) the level of environmental quality
E) political stability

Question

Quizplus · Accepted Answer

Convergence theory suggests that as countries approach the steady state, their levels of real GDP per capita will equalize. This means that poorer countries will see faster economic growth than richer countries, leading to a decrease in the income gap between nations. The theory is based on the assumption that poorer countries have more to gain from adopting the economic and political institutions of richer countries.

Convergence Is the Idea That ________ Will Equalize Across Nations