In the absence of technological progress, which of the following is true when the economy is operating at the steady state?
A) The growth of output per worker is zero.
B) The growth of output per worker is equal to the saving rate.
C) The growth of output per worker is equal to the rate of investment.
D) The growth of output per worker is equal to the rate of depreciation.
E) none of the above
A
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Collusion between two firms occurs when
A) announce that each will match its rival's market price. B) firms explicitly or implicitly agree to adopt a uniform business strategy. C) the firms independently pursue strategies that could hurt each other. D) firms act altruistically to bring about the economically efficient outcome.
Which of the following states that any trade concession given to any foreign country must be given to all other countries having the same status?
A. The purchasing power parity theory B. The most favored nation principle C. The principle of reciprocity D. The structural adjustment program