In Solow's exogenous growth model, the steady-state growth rate of capital can be increased by
A) higher population growth.
B) higher depreciation rate.
C) higher saving rate.
D) higher interest rate.
A
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When consumption spending is greater than disposable income, we know with certainty that we have
A) dissaving. B) negative net investment. C) excess thrift. D) positive savings.
If wealth, income, and standards of living are related in Canada as they are in the United States, then Canadian wealth is
a. more evenly distributed than income b. falling, if measured as per-capita wealth c. a good indicator of its poverty threshold d. less evenly distributed than income e. the reason why the Gini coefficient in Canada is less than 1
In a certain economy, the components of aggregate spending are given by: C = 60 + 0.6(Y - T) - 1,000rI = 200 - 1,000rG = 200NX = 50T = 100Given the information about the economy above, which expression below gives autonomous expenditures?
A. [510 - 2,000r] + 0.6Y B. [570 - 2,000r] + 0.6Y C. [450 - 2,000r] + 0.6Y D. [510 - 1,000r]
The following data relate to the supply schedule of a product.PriceQuantity Supplied$51001020015250203002535030500Using the regular percentage change formula, what is the price elasticity of supply when price increases from $15 to $20?
A. unit elastic B. perfectly elastic C. inelastic D. elastic