Balanced growth occurs when
A) the economy is in steady state.
B) the growth rates for the capital-labour ratio and real GDP per worker are the same.
C) total factor productivity and capital accumulation each account for the same amount of growth in labour productivity.
D) nations converge to the same level of real GDP per worker from equal increases in total factor productivity.
Correct Answer:
Verified
Q53: When incorporating labour-augmenting technological change into the
Q54: Devastating damage resulting from a major earthquake
Q55: In the steady state,assuming that a constant
Q56: If the actual capital-labour ratio is below
Q57: If the actual capital-labour ratio is above
Q59: Suppose the nation of Atlantica is experiencing
Q60: In the steady state,real GDP per worker
Q61: According to the AK growth model,budget surpluses
Q62: The idea that additional spending on research
Q63: According to the AK growth model,increasing human
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