One economic theory states that as time passes, economic systems become much more similar, such that they have common rates of growth, common employment levels, and common rates of inflation.What is the name of this theory?

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The theory that economic systems become more similar over time is known as the convergence theory. This theory suggests that as economies become more developed, they tend to converge towards similar levels of economic growth, employment, and inflation. This convergence can occur due to factors such as increased trade, technological innovations, and the spread of ideas and best practices.

One Economic Theory States That as Time Passes, Economic Systems