Empirical evidence from 1960 to 2011 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

Low-income industrial countries have shown convergence with high-income industrial countries, as they have the infrastructure and institutions to support growth, unlike many developing countries.

Empirical Evidence from 1960 to 2011 Shows That Convergence in Economic