eco_Chapter 8 - Chapter 8 1. In a steady-state economy with...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 8 1. In a steady-state economy with a saving rate s , population growth n , and labor- augmenting technological progress g , the formula for the steady-state ratio of capital per effective worker ( k *), in terms of output per effective worker ( f ( k *)), is (denoting the depreciation rate by δ ): A) sf ( k )/( δ + n + g ). B) s /(( f ( k ))( δ + n + g )). C) f ( k )/(( s )( δ + n + g )). D) ( s f ( k ))/( δ + n + g ). 2. In the Solow growth model with population growth and technological change, the steady-state growth rate of income per person depends on: A) the rate of population growth. B) the saving rate. C) the rate of technological progress. D) the rate of population growth plus the rate of technological progress. 3. According to the Solow model, persistently rising living standards can only be explained by: A) population growth. B) capital accumulation. C) saving rates. D) technological progress.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/28/2010 for the course ECO 2013 taught by Professor Patconroy during the Summer '08 term at Miami Dade College, Miami.

Page1 / 3

eco_Chapter 8 - Chapter 8 1. In a steady-state economy with...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online