Economics · Economic Growth Models
According to Solow's neo-classical model of growth, an increase in a country's savings rate will cause an ____________.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1increase in neither income per head levels nor growth rates in the long run
- 2increase in both income per head levels and growth rates in the long run
- 3increase in the rate of growth in the short run but not in the long run✓
- 4increase in the level of income per head in the short run but not in the long run
Correct answer
increase in the rate of growth in the short run but not in the long run
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