If the Per-Worker Production Function Is Given by Y =

question 42

Multiple Choice

If the per-worker production function is given by y = k^1/2, the saving ratio is 0.2, and the depreciation rate is 0.1, then the steady-state ratio of output per worker (y) is:

• A)1.
• B)2.
• C)3.
• D)4.

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Definitions:

Innovation Process

An approach that involves transforming novel ideas into useful products, services, or processes to create value or improve solutions.

Nonprogrammed Decisions

Decisions made in response to unusual, unpredictable, and unique situations requiring novel approaches.

Five-step Model

A structured approach or framework divided into five sequential steps to accomplish a task or solve a problem.

Programmed Decision-making

Decision-making methods that follow established processes or rules, often for routine or repetitive decisions.