South Korea's development in the last 40 years (or lack thereof) represents clear evidence against the economic growth theory, as its data do not fall along the catch-up line.

Question

Quizplus · Accepted Answer

The statement is incorrect. South Korea's development over the last 40 years is often cited as a successful example of the economic growth theory, as it has undergone rapid industrialization and significant increases in per capita income. Its data does fall along the catch-up line, which is a fundamental concept of the theory.

South Korea's Development in the Last 40 Years (Or Lack