What is the name for the tendency-among countries with similar steady-state levels of output-for poorer countries to grow faster than richer countries until they reach the same income levels?
A) the diminishing rate of return
B) the marginal law of supply
C) conditional convergence
D) growth capitalization

Question

Quizplus · Accepted Answer

This tendency is known as conditional convergence, which means that countries with similar steady-state levels of output will eventually reach the same income levels as they grow faster in the initial stages until they approach the steady state.

What Is the Name for the Tendency-Among Countries with Similar