In a Steady-State Economy with Population Growth N and Labor-Augmenting

question 21

Multiple Choice

In a steady-state economy with population growth n and labor-augmenting technological progress g, persistent increases in standard of living are possible because the:

• A)capital stock grows faster than does the labor force.
• B)capital stock grows faster than does the number of effective workers.
• C)capital stock grows faster than does depreciation.
• D)saving rate constantly increases.

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