Convergence means that

Question

Quizplus · Accepted Answer

Convergence refers to the tendency of economies to converge towards similar levels of per capita income over time. This means that poorer economies are likely to grow faster than richer economies, eventually closing the income gap between them. Therefore, option A is incorrect. Option B is also incorrect because not all countries grow at the same rate. Option D is not related to convergence as it refers to the relationship between savings rate and per capita income, not the convergence of economies.

Convergence Means That