If a country's saving rate declined, then other things the same, in the long run the country would have
a. lower productivity, but not lower real GDP per person.
b. lower productivity and lower real GDP per person.
c. lower real GDP per person, but not lower productivity
d. neither lower productivity nor lower real GDP per person.
b
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Without warranties, used car buyers can assume that all used cars are "lemons" because of
A) moral hazard. B) moral dilemma. C) adverse selection. D) adverse reaction.
Two years ago, the GDP deflator for Old York was 300, and today it is 330.75. Based on this information the annual average inflation rate for the two years was
A) 5%. B) 5.125%. C) 10%. D) 10.25%.
If Tattling Tina tattles, what would Bratty Brenda's best response be
a. Hit b. Not hit c. Run d. Hide
Which of the following is not one of the fundamental economic questions all societies must face? a. What goods and services are to be produced?
b. How goods and services are to be produced? c. Which goods and services are to be produced by the government? d. Who is to receive the goods and services produced in the society?