Macroeconomics: Principles, Problems, & Policies 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0-07766-077-3
ISBN 13: 978-0-07766-077-2

Chapter 8 - Economic Growth - Discussion Questions - Page 193: 3

Answer

Some countries are much poorer than other countries today because they start their modern economic growth so much later than other countries. No, they are not destined to always be poor. Today's poor countries can catch up by easily implementing and applying the new technological advancements that richer countries have developed.

Work Step by Step

Some countries are much poorer than other countries today because they start their modern economic growth so much later than other countries. No, they are not destined to always be poor. Today's poor countries can catch up by easily implementing and applying the new technological advancements that richer countries have developed.
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