Which of the following statements is most accurate about the prospects for poorer ("follower") countries catching up with richer ("leader") countries?
A. Catching up is unlikely to occur because their growth rates are the same on average.
B. Catching up is unlikely to occur because richer countries tend to grow at a faster rate.
C. Catching up is possible, but only if growth rates in leader countries fall to zero or become
negative.
D. Catching up is possible as "follower countries" tend to grow faster than "leader countries."
D. Catching up is possible as "follower countries" tend to grow faster than "leader countries."
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Refer to Table 1-1. What is Lydia's marginal cost if she decides to stay open for an extra two hours instead of one hour?
A) $10 B) $20 C) $25 D) $40
Which of the following is a common criticism of advertising?
a. It manipulates consumers’ tastes. b. It emphasizes product quality. c. It creates competition between firms. d. It focuses on what consumers want.