saving rates of the countries are also different, will both countries end up at the same level of standard of living?

With the use of the Solow Growth Model, answer the following questions

With the use of the Solow Growth Model, answer the following questions

Question
With the use of the Solow Growth Model, answer the following questions:

Suppose U
.S
. and China are two countries that only differ in the starting level of K (with everything else being the same – N, saving rate, population growth rate and so on)
. Will both countries end up at the same steady state of income, consumption and capital-labor ratio? Why?

Now suppose that in addition to beginning level of K being different, saving rates of the countries are also different, will both countries end up at the same level of standard of living? Why?

With the use of the Solow Growth Model, answer the following questions

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