Assume That Technological Progress Does Not Occur

question 21

Multiple Choice

Assume that technological progress does not occur. In Japan, the rate of saving has generally been greater than in the U.S. Given this information, we know that in the long run:

• A) The U.S. growth rate will be greater than the Japanese growth rate.
• B) Output per worker in Japan will be greater than U.S. output per worker.
• C) Output per worker in the U.S. will be greater than Japanese output per worker.
• D) Japan's growth rate will be greater than the U.S. growth rate.
• E) Capital per worker in Japan will be no different than U.S. capital per worker.

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Definitions:

Supplies Used

The cost of consumables used in the operation of a business during an accounting period.

Total Liability

The combined amount of debts and obligations that a company owes to outside parties.

Total Expenses

The total amount of money spent by a business during a specific period, including both fixed and variable costs.

Total Assets

The sum of all assets owned by a company, including current, fixed, and intangible assets, reflecting the total resources it has at its disposal.