Which of the Following Best Defines the Catch-up Effect
The idea of convergence in economics also sometimes known as the catch-up effect is the hypothesis that poorer economies per capita incomes will tend to grow at faster rates than richer economies and in the Solow growth model economic growth is driven by the accumulation of physical capital until this optimum. It is easier for a country to grow fast and catch up with. Glam Gel Polishes Gel Polish Gel Polish Colors Nail Accessories Influence of one person on the creation of a group goalc. . What is the definition of the catch up effect. A high wage attracts a better pool of workers that apply for the higher paying jobs due to their skills. They believe that this will lead to fewer wars. Convergence theorists believe that were entering an era in which most nations will be industrialized interdependent and have similar cultures. Influence of the group majority on an individuals judgmentThis answer is correctd. What does fisca...