Empirical evidence from 1960 to 2010 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 suggests that low-income industrial countries have shown convergence by catching up to high-income industrial countries, primarily due to technology transfer, capital accumulation, and institutional improvements.

Empirical Evidence from 1960 to 2010 Shows That Convergence in Economic