What's it: Potential GDP refers to the maximum output an economy can produce using its existing economic resources. It represents an economy's long-run aggregate supply. At this level of output, the economy will fully utilize all its resources and
Potential GDP
Absolute Convergence: Do Developing Countries Catch Up to Developed Ones?
Absolute convergence is an economic theory that sparks debate: Can developing countries eventually reach the same level of economic output per person as developed countries? This concept hinges on the idea that developing economies have a key