In equilibrium, rate of growth of capital in a simple closed economy (i.e., x = 0 ) is determined primarily by
A) the growth rate of savings.
B) the level of saving less expenditures for replacement capital.
C) per capita well-being.
D) the growth rate of replacement capital.
B
Economics
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According to Figure 6.1, the average annual rate of growth of the U.S. economy in the period 1996-2011 equalled ________
A) 0.3 percent B) 2.2 percent C) 30 percent D) 300 percent
Economics
If two workers can produce 22 units of output, and the addition of a third worker increases output to 30 units, the marginal product of the third worker is:
a. 8 units. b. 10 units. c. 22 units. d. 30 units.
Economics