Higher saving is associated with
a. a larger capital stock and higher productivity.
b. a larger capital stock but not higher productivity.
c. higher productivity but not a higher capital stock.
d. neither a higher capital stock nor higher productivity.
a
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Suppose an economy produces only burgers and bags of fries. In 2010, 4000 burgers are sold at $3 each and 6000 bags of fries are sold at $1.50 each. In 2008, the base year, burgers sold for $2.50 each and bags of fries sold for $2 each
a. nominal GDP is $22,000, real GDP is $21,000, and the GDP deflator is 95.45. b. nominal GDP is $22,000, real GDP is $21,000, and the GDP deflator is 104.77. c. nominal GDP is $21,000, real GDP is $22,000, and the GDP deflator is 95.45. d. nominal GDP is $21,000, real GDP is $22,000, and the GDP deflator is 104.77.
The extra production gained by employing one more worker is called the:
A. marginal product. B. nominal wage. C. surplus product. D. real wage.