Other things equal, relatively poor countries tend to grow
a. slower than relatively rich countries; this is called the poverty trap.
b. slower than relatively rich countries; this is called the fall-behind effect.
c. faster than relatively rich countries; this is called the catch-up effect.
d. faster than relatively rich countries; this is called the constant-returns-to-scale effect.
c
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Which of the following things does not have an objective cost?
A) Platinum B) Water C) Ski lift tickets D) Medical equipment E) None of the above has an objective cost.
What is one reason for the high interest rates for home loans offered to those with low credit ratings?
A) Predatory lending practices B) Those with lower credit ratings faced a restricted supply of loans, ceteris paribus. C) Those with lower credit ratings typically demand greater loans, ceteris paribus. D) Government regulation