In the Solow growth model with population growth and technological change, the steady-state growth rate of income per person depends on:
A) the rate of population growth.
B) the saving rate.
C) the rate of technological progress.
D) the rate of population growth plus the rate of technological progress.

Question

Quizplus · Accepted Answer

In the Solow growth model, the steady-state growth rate of income per person is determined by the rate of technological progress, as it represents improvements in productivity that drive long-term economic growth.

In the Solow Growth Model with Population Growth and Technological