Assume Two Economies Are Identical in Every Way Except That

question 118

Multiple Choice

Assume 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 as/than 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

---

Definitions:

Servant Leadership

A leadership philosophy that emphasizes serving the needs of others, fostering a supportive and collaborative environment.

Paradox

A statement or proposition that, despite sound reasoning from acceptable premises, leads to a conclusion that seems logically unacceptable or self-contradictory.

Serve and Influence

The concept of using one’s position or skills to benefit others and create positive change in their environment or society.

Descriptive

Pertaining to the act of describing or providing an account of something without expressing a judgment or assigning value.