The short-run effects of an increase in the saving rate include
a. a higher level of productivity.
b. a higher growth rate of productivity.
c. a higher growth rate of income.
d. All of the above are correct.
d
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A perfectly competitive firm is producing at the point where its marginal cost equals its marginal revenue. If the firm boosts its output, its total revenue will
A) rise and its total variable cost will rise even more. B) rise and its total variable cost will rise, but not by as much. C) fall but its total variable cost will rise. D) fall and its total variable cost will fall, but not by as much.
The Elkins Act of 1903:
a. outlawed any departure from a published shipping rate. b. made the receiver of a rebate guilty of violating the law. c. probably reflected the wishes of a large majority of railroad companies. d. All of the above.