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In the context of global economic development, which scenario best illustrates the concept of conditional convergence? a ) A developing country rapidly grows its economy
In the context of global economic development, which scenario best illustrates the concept of "conditional convergence"?
a A developing country rapidly grows its economy after adopting policies and technologies similar to those used in more developed countries, gradually closing the income gap.
b A wealthy country experiences a significant economic downturn, leading to reduced income disparities with developing countries.
c An international organization provides unconditional financial aid to underdeveloped nations, leading to varied economic outcomes.
d Developed nations impose trade barriers on emerging economies to protect their domestic industries, impacting global income distribution.
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