Other things the same, in the Solow model in the steady state, a higher rate of population growth ________ the level of output per worker
A) leads to an increase in
B) has no long-run effect on
C) has an ambiguous effect on
D) leads to a decrease in
D
You might also like to view...
When you were born, your parents deposited $10,000 in the bank. The bank offers a fixed interest rate of 4 percent. On your eighteenth birthday, your parents decide to withdraw the money that they deposited to pay for your college tuition
How much money can they expect to withdraw? Assume that interest is compounded annually.
Piper consumes Ragu spaghetti sauce exclusively. She claims that there is a clear taste difference and that competing brands of spaghetti sauce leave an unsavory taste in her mouth. However, in a blind taste test, Piper is found to prefer generic store-brand spaghetti sauce to Ragu spaghetti sauce eight out of ten times. The results of Piper's taste test would reinforce claims by critics of brand
names that a. consumers are always willing to pay more for brand names. b. brand names cause consumers to perceive differences that do not really exist. c. brand names are always preferred to generics. d. consumers are only willing to buy generics if they are less expensive.
Which of the following statements best reflects the law of diminishing marginal utility?
A. "I have to have a scoop of ice cream on my pie." B. "I'll never get tired of your cooking." C. "The last bite tastes just as good as the first." D. "I couldn't eat another doughnut if you paid me." E. "I prefer to eat several small meals a day, rather than three large ones."
Which of the following is not a determinant of a good's price elasticity of demand?
A) the slope of the demand curve B) whether the good is a luxury or a necessity C) the share of the good in the consumer's total budget D) the passage of time