Suppose s = 0.14, Y = 4000, K = 6200, n = 0.02, and d = 0.08. In this case, national saving is ________ than steady-state investment, so that the amount of capital per worker is ________
A) greater, rising
B) greater, falling
C) less, rising
D) less, falling
D
You might also like to view...
Which of the following describes a situation in which, as the level of production of a good or service increases, the average cost of producing each individual unit decreases?
a. Arbitrage b. Economies of scale c. Privatization d. Deindustrialization
Over time, technological change has:
A. reduced both the price elasticity and income elasticity of the demand for farm products. B. reduced the minimum efficient scale of production in agriculture and increased the prices of farm products. C. increased both price elasticity and income elasticity of the demand for farm products. D. increased the minimum efficient scale of production in agriculture and reduced the prices of farm products.