Empirical Evidence from 1960-2012 Shows That Convergence in Economic Growth

question 109

Multiple Choice

Empirical evidence from 1960-2012 shows that convergence in economic growth is occurring in which of the following cases?

• A)Low income industrial countries are catching up to high income industrial countries.
• B)Low income developing countries are catching up to high income industrial countries.
• C)Low income industrial countries are catching up to high income developing countries.
• D)All low income countries are catching up to all high income countries.

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Definitions:

Minimizing Losses

Minimizing Losses involves strategies and actions a business or individual might employ to reduce financial setbacks or decrease the severity of financial downturns.

Total Loss

The complete depletion of value of an asset or the sum of expenses surpassing all revenues, resulting in no net gain.

Most Efficiently

The method or process that achieves the best possible outcome with the least waste of resources.

Output

The amount of goods or services produced by a company, industry, or economy within a given period.