This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: Response Details: 1- The Golden Rule level of capital accumulation k*gold denotes the steady state with the highest: A. Level of consumption per worker. B. Level of output per worker. C. Growth rate of consumption per worker. D. Growth rate of output per worker. 2- With no population growth, the steady-state level of capital per worker will increase whenever: A. The amount of investment per worker decreases. B. The depreciation rate increases. C. The saving rate increases. D. All of the given options. 3- Which of the following statements is correct? A. Marginal product of capital (MPK) is constant in Solow model and diminishes in endogenous model. B. Marginal product of capital (MPK) is constant in endogenous model and diminishes in Solow model. C. Marginal product of capital (MPK) diminishes both in the Solow model and endogenous model. D. Marginal product of capital (MPK) is constant both in the Solow model and endogenous model....
View Full Document
This note was uploaded on 11/17/2009 for the course ECO 121212 taught by Professor Smith during the Spring '09 term at Culver-Stockton.
- Spring '09