In the Solow model, if productivity doesn't change,
A) the economy must eventually reach a steady state.
B) the capital—labor ratio must decline.
C) the capital—labor ratio must rise.
D) there can be no saving.
A
Economics
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The situation in which a person places greater value on a good as more and more people possess it is called the
A) Bandwagon Effect. B) Greater Value Effect. C) Snob Effect. D) Behavioral Effect.
Economics
"The short-run average total cost curve and the long-run average cost curve are both U-shaped for the same reasons." Do you agree or disagree? Why?
What will be an ideal response?
Economics