Which of the following statements is true?
A)There is no correlation between a state's per capita income in 1880 and its growth rate over the past century.
B)States with low income per capita in 1880 had the same growth rates over the past century as states that had higher income per capita in 1880.
C)States with low income per capita in 1880 had higher growth rates over the past century than states that had higher income per capita in 1880.
D)States with low income per capita in 1880 had lower growth rates over the past century than states that had higher income per capita in 1880.
E)States with low income per capita in 1880 used aggressive growth policies to accelerate their growth rates.

Question

Quizplus · Accepted Answer

This statement reflects the concept of convergence in economics, where poorer economies tend to grow faster than richer ones as they catch up, assuming similar access to technology and investment.

Which of the Following Statements Is True