Which of the following statements is true regarding the basic idea behind convergence theory?

Question

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All three statements (A, B, and C) are true regarding the basic idea behind convergence theory. This theory suggests that less developed countries will tend to grow faster than more developed countries, as they have more room for improvement and can benefit more from the same amount of investment. The idea is also related to the catch-up effect which states that countries with lower initial GDP per capita tend to grow at faster rates than those with higher initial GDP per capita. Additionally, the theory suggests that the gains from additional capital are greater for less developed countries, thus leading to faster growth.

Which of the Following Statements Is True Regarding the Basic