In the Absence of Technological Progress,we Know with Certainty That

question 44

Multiple Choice

In the absence of technological progress,we know with certainty that an decrease in the saving rate will cause which of the following?

• A)decrease steady state consumption
• B)increase steady state consumption
• C)have no effect on steady state consumption
• D)decrease steady state consumption only if the decrease in saving exceeds the increase in depreciation
• E) decrease steady state consumption only if the decrease in saving is less than the decrease in depreciation

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Definitions:

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, often based on limited evidence as a preliminary view.

Variable

An element, feature, or factor that is liable to vary or change; it's a core concept in scientific research and statistical analysis.

Lawful Order

A command or directive that is issued by someone in authority and is legally binding.

Scientific Approach

A systematic method of exploring, understanding, and predicting phenomena through observation, experimentation, and hypothesis testing.