21) The convergence hypothesis states:
Answer is:
Countries with lower levels of GDP per capita will grow faster on average than those with higher levels until they catch up to the leaders.
Related Macro Economics MCQ (GK Set-1) with Answers
Answer is:
the simple Solow model does not consider complementary inputs such as infrastructure and human capital.
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Human capital should be paid better in poor countries.
Answer is:
Less than full-exploitation of new knowledge by potential users is the cost of increasing the incentive for inventors to produce new knowledge.
Answer is: