A steady-state equilibrium refers to:
A) an equilibrium in which the stock of physical capital remains constant over time.
B) an equilibrium in which the inequality remains constant over time.
C) an equilibrium in which the GDP per capita remains constant over time.
D) an equilibrium in which the poverty rate remains constant over time.
A
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Which of the following regions had the most impressive growth rate between 1960 and 2011?
A) India B) East Asia C) Latin America D) Sub-Saharan Africa
Suppose the economy was initially in a long-run equilibrium. Then the world economy expands so that foreign incomes rise. U.S. aggregate demand ________ and eventually the money wage rate ________
A) increases; rises B) increases; falls C) decreases; rises D) decreases; falls
Average duration of unemployment is an example of a:
A) leading indicator. B) coincident indicator. C) lagging indicator. D) none of the above.
Refer to the above figure. The highest price that consumers would be willing to pay for quantity Q2 is
A) P2. B) P0. C) P1. D) cannot be determined from the diagram.