Why do economic growth rates tend to converge across countries? It is because ________ occurs more readily when capital per worker is low, combined with what other factor?

Choose the correct answer

Explanation

Economic growth rates converge because increasing capital per worker (capital deepening) is easier in countries with initially low capital. Additionally, these countries benefit from catching up to advanced technologies, which accelerates their growth.

Why do economic growth rates tend to converge across… — Long Term Economic Growth | PakQuizHub