According to the Convergence Theory

question 1

Multiple Choice

According to the convergence theory,

• A)less-developed countries should grow faster than advanced ones because of the ability to copy new technology
• B)the growth rates of all countries converge because in the long run, all resources are alike
• C)human capital differences can never be made up
• D)GDP and productivity growth rates should converge over time
• E)the impact of basic and applied research should converge over time

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Definitions:

Primary Forces

Fundamental or principal forces driving changes or developments in various fields, such as technology, society, or economics.

Development of Cities

The process by which towns and cities are formed and become larger as more and more people begin living and working in central areas.

Demography

The statistical study of human populations, including their size, growth, density, distribution, and vital statistics.

Study

The act of applying one's mind to acquiring knowledge on a particular subject through reading, research, or practice.