The industrialized group of countries has growth rates that are consistent with the findings of the economic growth model.That is, Taiwan, Korea, and Singapore had ________ incomes in 1960 than Canada, the United States and Switzerland; and Taiwan, Korea, and Singapore grew ________ than Canada, the United States and Switzerland between 1960 and 2009.
A)lower; more rapidly
B)greater; less rapidly
C)lower; less rapidly
D)greater; more rapidly

Question

Quizplus · Accepted Answer

The economic growth model suggests that countries with lower initial incomes have the potential to grow more rapidly than those with higher initial incomes, due to catch-up growth or convergence. Taiwan, Korea, and Singapore had lower incomes in 1960 compared to Canada, the United States, and Switzerland, and they grew more rapidly between 1960 and 2009.

The Industrialized Group of Countries Has Growth Rates That Are