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The term convergence means two things converging upon each other or getting closer. In the case of economics and income it means two separate countries or economies whose income usually average income is converging or getting closer over time. An example would be the average income in the Mexico and the Untied States hypothetically getting closer over time.
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Why do many economists expect income convergence between developed and developing countries and what factors would you look to for an explanation of why this has occurred for only a limited number of?
Economists often expect income convergence between developed and developing countries due to the theory of absolute convergence, which suggests that poorer economies will grow faster than richer ones, benefiting from technology transfer, capital accumulation, and labor force improvements. However, this convergence has occurred for only a limited number of countries due to factors such as institutional quality, differences in human capital, access to global markets, and varying political stability. Additionally, structural challenges like corruption, inadequate infrastructure, and persistent inequality can hinder the growth of developing nations, preventing widespread income convergence.
Definition of annual income?
is yearly pay.
If a good is a normal good what will happen to its consumption as income increases?
The definition of a Normal Good is: a good that will increase in consumption as income increases and decrease in consumption as income decreases.
How does convergence promote consumer welfare?
under what condition international convergence promote consumer to taste?
What is the difference between trended and untrended rent income?
Untrended NOI Definition
What is the definition of convergence pressure?
In chemistry, the convergence pressure is a specific point where two component systems converge. These two systems usually have different liquid vapor equilibriums.
Definition of cultural convergence?
Cultural convergence refers to a movement towards a global cultural unity. It aims to lessen the tensions between groups from different cultural backgrounds.
What is definition of personal income?
An individual's income.
What has the author Peter Doyle written?
Peter Doyle has written: 'Real convergence to EU income levels' -- subject(s): Economic conditions, Economic development, Income
What is best definition of taxable income?
the portion of your income that is eligible for taxation
Best definition of taxable income?
The portion of a persons income that is eligible for taxation
What is the definition of graduated income tax?
The higher your income, the higher percentage you pay.
Why do many economists expect income convergence between developed and developing countries and what factors would you look to for an explanation of why this has occurred for only a limited number of?
Economists often expect income convergence between developed and developing countries due to the theory of absolute convergence, which suggests that poorer economies will grow faster than richer ones, benefiting from technology transfer, capital accumulation, and labor force improvements. However, this convergence has occurred for only a limited number of countries due to factors such as institutional quality, differences in human capital, access to global markets, and varying political stability. Additionally, structural challenges like corruption, inadequate infrastructure, and persistent inequality can hinder the growth of developing nations, preventing widespread income convergence.
What is the definition of income?
income is what you can earn including your salary, other suport income like your rental income and some profit payment
Definition of annual income?
is yearly pay.
What part of speech is convergence?
Convergence is a noun.
What is best definition of net income?
"Net income" simply means income minus expenses.
