Assume that an economy experiences both positive population growth and technological progress. In this economy, which of the following is constant when balanced growth is achieved?
A) K
B) NA
C) K/N
D) Y/NA
E) none of the above
D
You might also like to view...
If the technology associated with producing fiber-optic cable continues to advance, over time the cost of producing fiber-optic cable will
A) decrease, firms that use the new technology will make an economic profit, and in the long run new firms will enter the market. B) decrease, firms that use the new technology will incur an economic loss, and in the long run some firms will exit the industry. C) increase, firms that use the new technology will make an economic profit, and in the long run new firms will enter the market. D) increase, firms that use the new technology will incur an economic loss, and in the long run some firms will exit the industry. E) decrease, firms that do not use the new technology will make an economic profit, and in the long run new firms will enter the market.
A federal system of governments can limit the problems posed by special interests because _____
a. it provides voters with other governments to compare to their own b. it increases the number of legislatures to oversee the bureaucracies c. it decreases rational ignorance d. b and c
Which statement best describes the growth rate of adult male real wages between 1820-1860 in the U.S.?
a. The growth rate was about the same as it was in pre-Revolutionary U.S. b. The growth rate was negative. c. The growth rate was more than 5 percent per year. d. The growth rate was 1.2-1.6 percent per year.
Price serves as a
A) rationing device. B) transmitter of information. C) means of determining who gets what of the available limited resources and goods. D) a and b E) all of the above