In the Solow growth model of an economy with population growth and technological progress, the steady-state growth rate in output per worker is equal to:
(a) zero
(b) the rate of technological progress g.
(c) the growth rate of population n plus the rate of technological
progress g. (d) the rate of technological progress g minus the
growth rate of population n.
In the Solow growth model of an economy with population growth and technological progress, the steady-state growth rate in total output is equal to:
(a) zero
(b) the rate of technological progress g.
(c) the growth rate of population n plus the rate of technological
progress g. (d) the rate of technological progress g minus the
growth rate of population n.
According to the Solow growth model, persistently rising living standards can only be ex- plained by:
(a) population growth.
(b) capital accumulation.
(c) saving rates.
(d) technological progress.
Hi,
Hope you are doing well!
Question:
In the Solow growth model of an economy with population growth and technological progress, the steady-state growth rate in output per worker is equal to:
Answer:
(b) the rate of technological progress g.
Increasing technology development or technology progress increase productivity and output that incraese output per worker.
Question:
According to the Solow growth model, persistently rising living standards can only be ex- plained by:
Answer:
(d) technological progress.
Increasing technology development or technology progress increase productivity and output that incraese output per worker. Increasing per worker income increase living standard.
Thanks
Get Answers For Free
Most questions answered within 1 hours.