Economics · Economy
What does the 'Catch-up Effect' mean in economics?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Underdeveloped economies stagnate permanently
- 2Developed economies experience economic decline
- 3Developing or poorer economies tend to grow faster than advanced economies✓
- 4Developed economies grow at a faster rate than developing ones
Correct answer
Developing or poorer economies tend to grow faster than advanced economies
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