9. The convergence hypothesis is: A) wrong because Latin American and African countries have not been able to grow. B) not wrong, but education, infrastructure, and the rule of law are not equal among nations. C) not wrong, but because poorer nations are involved in so many destabilizing incidents like wars, disease, and famines, they will never be able to catch up with the rest of the world. D) wrong because the income of poorer nations seems to get worse over time and the income of richer nations gets better.

The definition of convergence refers to two or more things coming together, joining together or evolving into one. An example of convergence is when a crowd of people all move together into a unified group.

The idea of convergence in economics (also sometimes known as the catch-up effect) is the hypothesis that poorer economies' per capital incomes will tend to grow at faster rates than richer economies. As a result, all economies should eventually converge in terms of per capital income

Conditional convergence suggests that: poorer countries' GDP may not catch up to those of richer countries without changes in education and infrastructure. The convergence hypothesis is: not wrong, but education, infrastructure, and the rule of law are not equal among nations.

yahayadanjuma55 yahayadanjuma55 · Answer 2 · 2020-04-02T22:25:09+02:00

Answer:

B) not wrong, but education, infrastructure, and the rule of law are not equal among nations.

Explanation:

Based on the scenario being discussed in the question, convergence hypothesis is not wrong , but education infrastructure, and the rule of law are not equal among nations. We can say convergence explains the phenomenon of the futures price and the cash price of the underlying commodity moving closer or nearer together over time. Convergence occurs because, in writing a market that is efficient will not allow something to trade for two different prices at the same time.