Economic convergence refers to which idea?

• A. Lower GDP per capita countries will catch up with higher GDP per capita countries
• B. Wages for all workers worldwide will eventually converge to equal levels
• C. The salaries of men and women will be equal
• D. In a supply and demand diagram, the preferences of producers and consumers converge on the equilibrium point

Answer: (A)

Economic convergence is the idea that poorer economies will grow faster than richer ones, allowing them to close the income gap over time. As countries with lower GDP per capita adopt existing technologies, increase investment, and benefit from higher returns on capital, their living standards tend to rise more quickly, helping them catch up to richer economies.

This is why the statement that lower GDP per capita countries will catch up with higher GDP per capita countries is the best fit. The other options describe concepts that aren’t about cross-country income convergence: global wage levels across all workers, rather than overall income per person; gender wage equality within countries; or a notion of producers’ and consumers’ preferences aligning in a supply-and-demand diagram, which is not the macro idea of convergence.