Question 25 (1 pnint) If the catch-up effect is universal, i.e. the poorer countries grow faster. Given enough time, what would happen to the international income differences? The catch-up effect does not do anything to the international income differences. O They would remain the same because income in both the rich and poor countries would grow over time. They would increase because the rich countries would continue to get richer. They would disappear.
Question 25 (1 pnint) If the catch-up effect is universal, i.e. the poorer countries grow faster. Given enough time, what would happen to the international income differences? The catch-up effect does not do anything to the international income differences. O They would remain the same because income in both the rich and poor countries would grow over time. They would increase because the rich countries would continue to get richer. They would disappear.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter32: Macroeconomic Policy Around The World
Section: Chapter Questions
Problem 3SCQ: Create a table that identifies the macroeconomic policies for a high-income country, a middle-income...
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Transcribed Image Text:Question 25 (1 paint)
If the catch-up effect is universal, i.e. the poorer countries grow faster. Given enough
time, what would happen to the international income differences?
The catch-up effect does not do anything to the international income
differences.
They would remain the same because income in both the rich and poor countries
would grow over time.
They would increase because the rich countries would continue to get richer.
They would disappear.
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