Refer to Figure 8A.2. If the economy were originally saving at the rate s1 but changed to the rate s2
A) depreciation will not catch up to total saving. B) capital deepening will continue past K2.
C) the economy stops growing at e1. D) saving exceeds depreciation at K1.
D
You might also like to view...
Properties of long-run competitive equilibrium with free entry include:
A. an equilibrium price equal to the minimum MC. B. firms earning positive profits. C. active firms producing at their efficient scales of production. D. All of these are properties of long-run competitive equilibrium.
The true burden of a payroll tax has nothing to do with the percentage of the tax that employers are required to pay
a. True b. False Indicate whether the statement is true or false
Suppose Chip's Chips produces bags of potato chips that sell for $3 a bag. If they sold 12,000 bags and incurred total costs of $30,000, what was the company's profit?
A. $18,000 B. $6,000 C. $42,000 D. $36,000
The production function has ____ on the horizontal axis.
A. real GDP B. capital stock C. technology D. labor input