Assume That Technological Progress Does Not Occur

question 24

Multiple Choice

Assume that technological progress does not occur. Which of the following variables will not change when the economy reaches steady- state equilibrium?

• A) Output per worker.
• B) Investment per worker.
• C) Capital per worker.
• D) All of the above.
• E) Only A and B.

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Definitions:

Agent to Agent

Communication or interaction between autonomous entities in a network, typically in the context of software or business negotiations.

Principal to Staff

The relationship and authority dynamic between the primary leaders or executives (principals) and the employees (staff) within an organization.

External Driver

Factors outside an organization that influence its operations, strategies, and success, such as market trends, regulatory changes, or economic conditions.

3C Model

A business model that focuses on three key factors: Company, Customer, and Competitor, to guide strategic development and decision-making.