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Explain plz Question 7 (1 point) Suppose a country is significantly richer than the others. According to the Solow growth model, what happens in the

Explain plz

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Question 7 (1 point) Suppose a country is significantly richer than the others. According to the Solow growth model, what happens in the long run? ( a) The other countries catch up to the rich one. ( b) Nothing. O c) The rich country becomes poorer than the other ones. O d) The rich country grows the fastest. ( e) None of the above Question 8 (1 point) In the endogenous growth model presented in the text, suppose that u represents the fraction of time spent working (as opposed to accumulating human capital) and b represents the efficiency of human capital accumulation. The growth rate of consumption equals ( a) w( 1 - b ) - 1. (b) b( 1 - 2) - 1. O c) c(1 - b ) - 1 . ( d) b( 1 - c ) - 1. O e) None of the above

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