Multiple Choice
Which of the following statements accurately describes catch-up growth?
A) In one generation, China will be one of the richest countries in the world, if China's GDP per person continues to grow 9% per year.
B) In one generation, Zimbabwe will be one of middle-income countries, since Zimbabwe's per person GDP fell by 27% in the last couple of decades.
C) In one generation, even if China's GDP per person will decline 9% per year, China will remain one of richest countries in the world.
D) In one generation, Zimbabwe will be the world richest country, since Zimbabwe's per person GDP grew 9% in the last couple of decades.
Correct Answer:
Verified
Correct Answer:
Verified
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