In the absence of technological progress, which of the following remains constant in the steady state equilibrium?
A) investment per worker
B) output per worker
C) saving per worker
D) all of the above
E) only A and B
D
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The United States temporarily operated outside the production possibilities frontier in
A. 1933. B. 1943. C. 1973. D. 1982.
The Bureau of Labor Statistics' U-1 measure of joblessness includes only very long-term unemployed
a. True b. False Indicate whether the statement is true or false
Average cost pricing is permitted
A. when a service is produced by a natural monopoly. B. when few firms have the incentive to provide a service. C. in price-taking markets. D. when firms exhibit diseconomies of scale.
If the demand for cigarettes is inelastic, a per-unit tax on cigarettes will cause the quantity demanded to:
A. rise proportionally more than the increase in price caused by the tax. B. fall proportionally more than the increase in price caused by the tax. C. fall proportionally less than the increase in price caused by the tax. D. rise proportionally less than the increase in price caused by the tax.