The neoclassical growth model predicts conditional convergence for countries with the same population growth, level of technology, and
A: a higher savings rate
B: a lower savings rate
C: the same savings rate
D: all of the above
E: none of the above
A: a higher savings rate
B: a lower savings rate
C: the same savings rate
D: all of the above
E: none of the above
举一反三
- An economy with a capital-labor ratio that is lower than the steady-state level can achieve a steady-state equilibrium at this lower capital-labor ratio only if A: the savings rate decreases B: the rate of depreciation decreases C: the rate of population growth decreases D: technological advances are made E: all of the above
- Countries with higher saving rates may have higher equilibrium growth rates since A: people who save more also are more industrious B: higher income allows for more savings C: a higher saving rate allows for more investment in human capital which ultimately enhances economic growth D: having more capital equipment is more important than having better capital equipment E: none of the above
- The idea of a steady state is that A: the capital-labor ratio grows at a constant rate B: output per capita grows at a constant rate C: output, capital, and labor all grow at the same rate D: an increase in the savings rate will not affect the capital-labor ratio E: real output cannot grow
- In the neoclassical theory of growth, growth in ________ is the result of luck. A: saving B: income C: technology D: the real interest rate
- Which growth theory predicts perpetual growth? A: classical growth theory B: neoclassical growth theory C: new growth theory D: None of the above answers is correct.