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According to the Convergence Hypothesis, Differences in GDP Per Capita

question 78

True/False

According to the convergence hypothesis, differences in GDP per capita among countries tend to narrow over time because countries that start with a lower real GDP per capita tend to have negative growth rates.

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Definitions:

Decentralization

The distribution of administrative powers or functions across various levels within an organization, as opposed to having them concentrated at a single point.

Advantage

Advantage refers to a favorable position or condition that enhances the probability of success or effectiveness in a competitive environment.

Responsibilities

Duties or obligations that an individual or organization is required or expected to perform.

Decentralization

The distribution of decision-making powers and operational activities away from a central authoritative location or group.

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