Question: Answer the given question with a proper explanation and step-by-step solution. a.) Explain the convergence hypothesis. How does the hypothesis of absolute convergence differ from

Answer the given question with a proper explanation and step-by-step solution.

a.) Explain the convergence hypothesis. How does the hypothesis of absolute convergence differ from that of conditional convergence?

b.) What does it mean to say that growth is exogenous or endogenous? How does U.S. business growth look to you, explain?

c.) Why do many economists think that large cross-country income differences are hard to reconcile with implications of the growth model?

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