Practice mode Long Term Economic Growth

What does the idea of GDP convergence in Europe suggest?

Correct answer D. Poorer, less developed countries will catch up with richer ones

Explanation

Convergence theory argues poorer economies grow faster because they have less capital per worker and can adopt existing technology, so their income per head gradually approaches that of richer countries.

Report a problem

Answer checked How we write and check questions

Tip: press A, B, C or D to answer, and N for the next question.

Advertisement

Have a question about this answer?

Your email address will not be published. Required fields are marked *

Links and website addresses are not allowed in comments.