Multiple Choice
In an economy with no population growth and no technological change, steady-state consumption is at its greatest possible level when the marginal product of:
A) labor equals the marginal product of capital.
B) labor equals the depreciation rate.
C) capital equals the depreciation rate.
D) capital equals zero.
Correct Answer:
Verified
Correct Answer:
Verified
Q40: Analysis of population growth around the world
Q41: Assume that a war reduces a country's
Q42: If the national saving rate increases, the:<br>A)
Q43: In the Solow growth model, the steady-state
Q44: One of the key distinctions made in
Q46: If y = k<sup>1/2</sup>, the country saves
Q47: If an economy is in a steady
Q48: Assume that a war reduces a country's
Q49: In the Solow growth model the saving
Q50: In the Solow growth model with population