According to the combined Solow-Romer model, all countries grow at the same rate in the medium and long runs.

Question

Quizplus · Accepted Answer

The combined Solow-Romer model predicts that countries will converge to the same steady-state level of income, but not necessarily at the same rate. Some countries may converge more quickly than others due to factors such as technological advancements, human capital accumulation, and institutional quality.

According to the Combined Solow-Romer Model, All Countries Grow at the Same