Refer to the scenario above. Which of the following statements will be true in steady state?
A) Economy A will have a lower capital stock and a greater GDP than economy B.
B) Economy A will have a greater capital stock and a lower GDP than economy B.
C) Economy A will have a greater capital stock and GDP than economy B.
D) Economy A will have a lower capital stock and GDP than economy B.
D
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Raising the federal funds rate shifts the aggregate demand curve ________, so that real GDP________ and the price level ________
A) rightward; increases; rises B) leftward; decreases; rises C) rightward; increases; falls D) leftward; increases; rises E) leftward; decreases; falls
Shirking is most likely to occur when
A) the principal monitors the agents extensively. B) employees are paid an hourly wage. C) a piece rate contract is used. D) an assembly line is used for production.