Several arguments suggest that low-income countries might have an advantage achieving greater worker productivity and economic growth in the future. Give two such arguments

The first argument is based on diminishing marginal returns. Even though deepening human and physical capital will tend to increase per capita GDP, the law of diminishing returns suggests that as an economy continues to increase its human and physical capital, the marginal gains to economic growth will diminish. The second argument is that low-income countries may find it easier to improve their technologies than high-income countries as they can observe the experience of those countries that have grown more quickly and can learn from it.

Economics

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The second largest source of revenue for the federal government is the

A. import tax. B. payroll tax. C. export tax. D. federal property tax.

Economics

Using concentration ratios, which is the more concentrated industry?


A. Industry X with a concentration ratio of 80.
B. Industry Y with a concentration ratio of 95.
C. Both industries have the same concentration ratio of 100.
D. There is no way to determine which industry has the higher concentration ratio.

Economics