Economics
5th Edition
ISBN: 9781319066604
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
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Question
Chapter 24, Problem 12P
To determine
Why the real GDP per capita in California and Pennsylvania exhibit convergence but not in California and Baja California.
Concept Introduction:
Convergence Hypothesis: According to this hypothesis the concept of convergence in the economy, it is assumed that the per capita income of the backward economies will grow much faster than the rich economies.
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