Which of the Following Statements Accurately Describes Catch-Up Growth

question 26

Multiple Choice

Which of the following statements accurately describes catch-up growth?

• A)In one generation, China will be one of the richest countries in the world, if China's GDP per person continues to grow 9% per year.
• B)In one generation, Zimbabwe will be one of middle-income countries, since Zimbabwe's per person GDP fell by 27% in the last couple of decades.
• C)In one generation, even if China's GDP per person will decline 9% per year, China will remain one of richest countries in the world.
• D)In one generation, Zimbabwe will be the world richest country, since Zimbabwe's per person GDP grew 9% in the last couple of decades.

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Definitions:

Good Y

A hypothetical product or item, often used in economic models and theories to illustrate various economic principles and interactions.

Pepsi

A carbonated soft drink produced and manufactured by PepsiCo, known worldwide and serving as a major competitor to Coca-Cola.

Pizza

A popular dish of Italian origin consisting of a flat round base of dough topped with tomatoes, cheese, and various other ingredients, baked quickly.

Trade-off

A case where the gain of one property or aspect comes at the cost of losing another.