Which of the following best explains why per capita income levels across countries have failed to converge?
A) Increasing returns to scale are more significant in some countries than in others.
B) Growth rates of human capital vary across countries.
C) Population growth rates across countries have failed to converge.
D) Diminishing marginal productivity no longer applies.
Correct Answer:
Verified
Q76: Q77: According to the convergence hypothesis based on Q78: According to the neoclassical growth model, richer Q79: Suppose Slovakia and Zimbabwe have the same Q80: Large differences in human capital between poor Q82: Which of the following statements is false? Q83: Consider Solow growth model with production function Q84: Consider Solow growth model with production function Q85: Which of the following statements is false? Q86: Endogenous growth implies the steady-state growth rate
A)
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents