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EBK ESSENTIALS OF ECONOMICS
4th Edition
ISBN: 8220103647380
Author: KRUGMAN
Publisher: MAC HIGHER
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Question
Chapter 15, Problem 11P
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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