Which of the following is evidence consistent with the convergence hypothesis?Group of answer choicesA positive relationship between per capita income and the average rate of economic growthNo relationship between per capita income in some base year and the average rate of economic growth since the base yearA negative relationship between per capita income in some base year and the average rate of economic growth since the base yearA positive relationship between per capita income in some base year and the average rate of economic growth since the base year

Convergence theory suggests that when less developed countries begin to develop, they typically have higher growth rates as they catch up with more developed nations.Group of answer choicesTrueFalse

The concept of "convergence" in the Solow model refers to:  A. The tendency of economies with higher initial capital levels to grow faster  B. The convergence of population growth rates across countries  C. The diminishing returns to labor in the long run  D. The convergence of savings rates across countries

The primary reason why economies with lower output per capita converge on economies with higher output per capita is higher ____ .Group of answer choicestechnological progressentrepreneurial activitybudget deficitstrade surpluses

Which of the following statements is true?I. Small differences in rates of economic growth can lead to large differences in levels of potential output over time.II. From the perspective of the rule of 72, small differences in rates of economic growth between two countries will not significantly affect their respective standards of living.III. Countries that have higher population growth rates are likely to see higher economic growth rates because increases in population lead to increases in the size of the labor force.Question 2Select one:a.I and IIIb.II and IIIc.I onlyd.II onlye.III only

Economic Growth