According to Convergence Theory, Countries That Start Out Poor Should

question 51

Multiple Choice

According to convergence theory, countries that start out poor should initially grow _______ than countries that start out rich and will eventually _______.

• A) faster; slow to the same growth rate
• B) slower; grow to the same growth rate
• C) faster; surpass their level of income
• D) slower; surpass their level of income

---

Definitions:

Generally Accepted Accounting Principles

A set of accounting standards and practices that are widely used and accepted in the preparation of financial statements in the United States.

Budgeted Selling

The projected or planned selling expenses over a specific period, often used in financial planning.

Sales Revenue

The primary source of revenue in a merchandising company.

Selling Expenses

Costs incurred directly in the selling of goods or services, such as commissions and advertising.