Assume That Two Economies Are Identical in Every Way Except

question 1

Multiple Choice

Assume that two economies are identical in every way except that one has a higher saving rate. According to the Solow growth model, in the steady state the country with the higher saving rate will have _____ level of output per person and _____ rate of growth of output per worker compared to the country with the lower saving rate.

• A)the same; the same
• B)the same; a higher
• C)a higher; the same
• D)a higher; a higher

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Definitions:

Enumerated Name

A user-defined data type in C/C++ that assigns names to integral constants to improve code readability.

Enumerated Constant

A symbolic name for a series of constant values typically defined in an enumeration type.

Conditional Operator

A ternary operator that provides a shorthand way to write if-else statements, evaluating a condition and returning one of two values.