According to Conditional Convergence, the Real GDP Per Capita of Poor

question 69

True/False

According to conditional convergence, the real GDP per capita of poor nations will never catch up to that of wealthy nations because of the condition of the military in poor nations.

---

Definitions:

Automobile Purchases

The action or activity of buying vehicles intended for personal or commercial use on roads.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, indicating the percentage of additional income that is paid in taxes.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price, where market supply and demand balance.

Excise Tax

A tax on the production, sale, or consumption of a commodity in a country.