Suppose s = 0.18, Y = 4000, K = 6200, n = 0.02, and d = 0.08. This makes national saving ________ than steady-state investment, so that the amount of capital per worker is ________
A) greater, rising
B) greater, falling
C) less, rising
D) less, falling
A
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When incorporating labor-augmenting technological change into the Solow growth model, the focus is on
A) capital per worker and output per worker. B) capital per effective worker and output per worker. C) capital per worker and output per effective worker. D) capital per effective worker and output per effective worker.
Suppose a production function is q = K1/2L1/3 and in the short run capital (K) is fixed at 100 . If the wage is $10 and the rental rate on capital is $20, the fixed cost is
a. $2,000 b. $200 c. $20,000 d. $0
The firm's short-run supply curve begins at an output of
A. 0.
B. 40.
C. 45.
D. 50.
Government spending that changes automatically without action by Congress is
A. payments to contractors for routing services performed. B. national defense. C. a noncontrollable expenditure. D. discretionary payments.