Unformatted text preview: Answer: B) 2. At the Golden Rule Steady State: A) marginal product of capital is the highest. B) marginal product of capital is the lowest. C) marginal propensity to consume is the highest. D) level of per capita consumption is the highest. Answer: D 3. The total differentiation of the L E × 1 is given by: A) L E Δ × Δ 1 B) L E L L E E × × ⎟ ⎠ ⎞ ⎜ ⎝ ⎛ Δ + Δ − 1 C) L E Δ − Δ − D) L L E E Δ − Δ − Answer: B...
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- Spring '08
- Economics, per capita, Per capita income, Higher Population Growth