In the neoclassical growth model without technological progress, the steady-state growth rate of per capita output is
a. the growth of technology plus the growth of population.
b. the growth of population.
c. the growth of technology.
d. the growth of technology plus population plus depreciation.
C
You might also like to view...
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
When people expect that the future exchange rate will be lower, they ________ the supply of dollars and the current exchange rate ________
A) decrease; rises B) decrease; falls C) increase; falls D) increase; rises E) do not change; rises
The flawed character cause of poverty refers to individual defects in aspiration or ability
Indicate whether the statement is true or false
Total surplus:
A. is producer and consumer surplus combined.
B. is producer surplus minus consumer surplus.
C. is consumer surplus minus producer surplus.
D. is the total amount spent on a good in a market.