Empirical evidence from 1960-2012 shows that convergence in economic growth is occurring in which of the following cases?
A)Low income industrial countries are catching up to high income industrial countries.
B)Low income developing countries are catching up to high income industrial countries.
C)Low income industrial countries are catching up to high income developing countries.
D)All low income countries are catching up to all high income countries.

Question

Quizplus · Accepted Answer

Empirical evidence shows that low income industrial countries are catching up to high income industrial countries, indicating convergence in economic growth. There is no evidence of convergence between low income developing countries and high income industrial countries or between low income industrial countries and high income developing countries. Option D is too broad and not supported by the evidence.

Empirical Evidence from 1960-2012 Shows That Convergence in Economic Growth