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

Select a developing country that interest you and search for evidence suggesting which factors are the binding constraint on growth.

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

Question 5Growth that comes from within a country is called _____ growth.

Do all countries develop at the same rate?

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