Suppose a politician makes the following comments regarding the World Bank data:

Question

Suppose a politician makes the following comments regarding the World Bank data:

I. China's exceptional growth between 1980 and 2000 supports the convergence hypothesis.

II. The widening gap between Bulgaria and the United States supports the convergence hypothesis.

III. Bulgaria, Ecuador, and Nigeria's low growth rates could be explained by low interest rates and high investment.

IV. Because Nigeria's growth rate increased, its per-capita real GDP will eventually surpass that of the United States and the Netherlands.

V. The differences between high-income countries (the United States and the Netherlands) and low-income countries may be explained by lack of political stability and property rights.

VI. More education and research and development in Bulgaria, Ecuador, and Nigeria will foster higher economic growth rates in these countries.

Which of the above comments is correct?
Suppose a politician makes the following comments regarding the World Bank data:

I. China's exceptional growth between 1980 and 2000 supports the convergence hypothesis.

II. The widening gap between Bulgaria and the United States supports the convergence hypothesis.

III. Bulgaria, Ecuador, and Nigeria's low growth rates could be explained by low interest rates and high investment.

IV. Because Nigeria's growth rate increased, its per-capita real GDP will eventually surpass that of the United States and the Netherlands.

V. The differences between high-income countries (the United States and the Netherlands) and low-income countries may be explained by lack of political stability and property rights.

VI. More education and research and development in Bulgaria, Ecuador, and Nigeria will foster higher economic growth rates in these countries.

Which of the above comments is correct?

Explanation / Answer

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