The Convergence Hypothesis Suggests That, All Else Equal, Poor Countries

question 12

True/False

The convergence hypothesis suggests that, all else equal, poor countries grow more rapidly than rich countries.

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Definitions:

Labor Force Participation Rates

A measure of the active portion of an economy's labor force, indicating the percentage of people who are either working or actively looking for work.

United States

A country in North America, known for its significant influence in economic, political, and cultural matters globally.

1950s

A decade marked by post-World War II recovery, cultural change, and significant technological progress in many countries.

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment, a key indicator of economic health.