The economic theory that states that as time passes, economic systems become much more similar, with common rates of growth, common employment levels and common rates of inflation is known as
A)divergence theory
B)parallel path theory
C)convergence theory
D)non-competing economic systems theory
E)static state theory

Question

Quizplus · Accepted Answer

The economic theory referred to in the question is known as convergence theory. It suggests that over time, economic systems tend to become more similar in terms of growth rates, employment levels, and inflation rates. This can occur due to factors such as the spread of technology, greater levels of trade and investment, and the adoption of similar economic policies.

The Economic Theory That States That as Time Passes, Economic