A Small Country's Aggregate Production Function Is Given by Y

question 70

Multiple Choice

A small country's aggregate production function is given by Y = K^1/2. Its depreciation rate is 5% and its investment rate is 25%. What is its steady-state level of capital?

• A) 25
• B) 5
• C) 1.25
• D) 0.25

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Definitions:

Conscientiousness

A personality trait marked by diligence, care, and discipline in pursuing goals.

Big Five

The five basic clusters of personality traits that remain quite stable throughout adulthood: openness, conscientiousness, extroversion, agreeableness, and neuroticism.

Trait Theory

A psychological model which suggests that human personality is composed of a number of broad traits or dispositional attributes.

Generativity

The psychological and social concept that involves contributing to society and the next generation's well-being, often associated with middle adulthood.