When the Economy Is in the Steady State, We Know

question 7

Multiple Choice

When the economy is in the steady state, we know with certainty that:

• A) consumption per worker is maximised.
• B) output per worker is maximised.
• C) the saving rate is maximised.
• D) the growth rate is maximised.
• E) investment per worker equals depreciation per worker.

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Definitions:

General Deterrence

is a theory in criminology that suggests the prevention of criminal behavior through the threat of punishment, aiming to discourage others from committing similar offenses.

Punishing Innocent

The act of subjecting individuals who have not committed any wrongdoing to punishment.

Moral Justification

The process of providing a moral reason or rationale to support or defend an action or behavior.

Legal Justification

The basis under law that explains or defends why an action is considered legal or right.