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:

Receivables

Money owed to a business or an individual for goods or services provided on credit.

Cash-to-cash Cycle

The time period between when a business pays for its inventory and when it receives cash from the sale of that inventory.

Timing

The selection of the most appropriate point or period to initiate or execute an action to achieve the desired outcome.

Open-book Management

A management strategy where employees are given access to financial information about the company to involve them more in its operations.