Which of the following is a true statement regarding the economic growth model's predictions and how it actually affects the real world?
A)The growth model predicts that poor countries should catch up with rich countries,but developing countries are not catching up to lower-income industrialized countries as a group.
B)The growth model predicts that poor countries will never catch up with rich countries,but lower-income industrialized countries are catching up to higher-income industrialized countries as a group.
C)The growth model predicts that poor countries will catch up with rich countries,but lower-income industrialized countries are not catching up to higher-income industrialized countries as a group.
D)The growth model predicts that poor countries will catch up with rich countries,and this is what we observe across all developmental categories of countries.

Question

Quizplus · Accepted Answer

Empirical evidence does not support the growth model's prediction that poor countries should catch up with rich countries. While some developing countries have experienced significant growth and catch-up, many others have remained stagnant or fallen behind. Additionally, lower-income industrialized countries as a group are not catching up to higher-income industrialized countries, further highlighting the shortcomings of the growth model's predictions.

Which of the Following Is a True Statement Regarding the Economic