Income per capita disparity is a characteristic of our world today. What is NOT true about...

Income per capita disparity is a characteristic of our world today. What is NOT true about the state of the world in this sense?

		We have not seen convergence of GDP per capita
		We have not seen convergence of GDP per capita growth rates
		TFP has been stagnant in all countries.
		28% of the population lives in a country with GDP per capita higher than the world GDP per capita.

Expert Solution

Option C.

In terms of income per capita dispartiy, among the following options, we have seen that there is no convergence of GDP per capita and GDP per capita growth rates in the economies. 28 per cent of the population lives in a country with GDP per capita higher than the world GDP per capita. However, the fact that TFP has been stagnant in all the countries is not correct. There has been an increase in TFP in developing and developed countries of the world.

Rahul Sunny answered 2 years ago

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