In the long run, an increase in the saving rate in a steady-state economy will cause
A) an increase in the capital—labor ratio and an increase in consumption per worker.
B) an increase in the capital—labor ratio and a decrease in consumption per worker.
C) a decrease in the capital—labor ratio and a decrease in consumption per worker.
D) a decrease in the capital—labor ratio and an increase in consumption per worker.
A
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Marginally attached workers fall into which of the following population categories?
A) employed B) unemployed C) labor force D) not in the labor force
A scatterplot is
A) a graph highlighting leads and lags. B) a graph with one series on each axis. C) a graph of one series against time. D) a graph of two series against time.
If V is constant, the rate of growth of M that is consistent with a stable price level is
A) zero. B) the rate of growth of PQ. C) the rate of growth of Q. D) the expected rate of inflation. E) none of the above
Suppose the equilibrium price in the market is $10 and the price elasticity of demand for the linear demand function at the market equilibrium is ?1.25. Then we know that:
A. marginal revenue is $2. B. demand is unit elastic. C. marginal revenue is $50. D. demand is inelastic.