High-income countries have growth rates that are consistent with the catch-up prediction in economic growth models.That is,Taiwan,Korea,and Singapore had ________ incomes in 1960 than the United States and Switzerland,and Taiwan,Korea,and Singapore grew ________ than the United States and Switzerland between 1960 and 2014.
A)lower; more rapidly
B)greater; less rapidly
C)lower; less rapidly
D)greater; more rapidly

Question

Quizplus · Accepted Answer

The catch-up prediction in economic growth models suggests that countries with lower incomes will grow more rapidly than high-income countries as they adopt existing technologies and practices, thus narrowing the income gap. Taiwan, Korea, and Singapore had lower incomes in 1960 compared to the United States and Switzerland and grew more rapidly between 1960 and 2014, aligning with this prediction.

High-Income Countries Have Growth Rates That Are Consistent with the Catch-Up