Homework answers / question archive / The catch-up effect refers to the fact that a

The catch-up effect refers to the fact that a

Economics

Share With

The catch-up effect refers to the fact that

a. an increase in the saving rate leads to higher growth only for a while.

b. it is easier for a country to grow fast if it starts out relatively poor.

c. because capital is a produced factor of production, a society can change the amount of capital it has.

d. today, thanks to advances in farming technology, a small fraction of the population can produce enough food to feed the entire country.