Economics · Growth Theories
What does the Convergence Hypothesis in economic growth theory suggest?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Poor countries will always remain poor due to poverty traps.
- 2Rich countries will continue to grow at a faster rate indefinitely.
- 3Poor countries will grow faster and catch up with rich countries in terms of GDP per capita.✓
- 4Global economic growth will come to a complete standstill.
Correct answer
Poor countries will grow faster and catch up with rich countries in terms of GDP per capita.
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