Assume That an Economy Experiences Both Positive Population Growth and Technological

question 24

Multiple Choice

Assume that an economy experiences both positive population growth and technological progress. Once the economy has achieved balanced growth, we know that the output per effective worker (Y/AN) is

• A) growing at a rate of gA - gN.
• B) growing at a rate of gN.
• C) growing at a rate of 0.
• D) growing at a rate of gA + gN.
• E) growing at a rate of gA.

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Definitions:

Second New Deal

A series of programs and reforms introduced by President Franklin D. Roosevelt in the 1930s aimed at economic recovery and social welfare improvements during the Great Depression.

Depression

A severe and prolonged downturn in economic activity characterized by high unemployment, falling prices, and decreased production, or clinically, a mental health disorder marked by persistent sadness and lack of interest.

United Mine Workers

A labor union that represents coal miners in the United States and Canada, advocating for workers' rights and safety since its founding in 1890.

Industrial Freedom

The concept of allowing industries to operate with minimal government intervention, emphasizing free markets and competition.