In a steady-state economy with a saving rate s, population growth n, depreciation rate δ, and labour-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
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) .
Correct Answer:
Verified
Q1: If the labour force is growing at
Q4: Differences in factor accumulation and/or differences in
Q6: If two economies are identical (including having
Q7: The rate of labour-augmenting technological progress (g)
Q9: The efficiency of labour:
A)is the marginal product
Q10: The assumption that technological progress increases the
Q13: In the Solow model with technological change,
Q17: Conditional convergence occurs when economies converge to:
A)
Q24: Hypotheses to explain the positive correlation between
Q27: If two economies are identical (with the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents