If a country's saving rate increases, then in the long run
a. productivity is higher but real GDP per person is not higher.
b. real GDP per person is higher but productivity is not higher.
c. productivity and real GDP per person are both higher.
d. neither productivity nor real GDP per person is higher.
c
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The Monetary Control Act of 1980:
a. created less competition among various financial institutions. b. allowed fewer institutions to offer checking account services. c. restricted savings and loan associations to long-term loans. d. all of the above. e. none of the above.
Suppose an entrepreneur commits to a production schedule but overestimates the market price for her products. Which situation is not possible?
a. Price equals average total cost. b. Losses are greater than if she shut down. c. Total profit is positive. d. Average variable cost is greater than marginal cost. e. Total profit is zero.