Use the Following Information to Answer the Question(s) Below

question 74

Multiple Choice

Use the following information to answer the question(s) below:
(1) the rate of depreciation is 10% per year,
(2) the population growth rate is 2% per year, and
(3) the growth rate of technology is 3% per year.
-Refer to the information above.Which of the following represents the steady-state growth rate of output in this economy?

• A)2%
• B)3%
• C)5%
• D)10%
• E) 15%

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Definitions:

Assertiveness

The quality of being self-assured and confident without being aggressive, allowing an individual to express their thoughts and feelings in a respectful manner.

Warmth

The quality or state of being pleasantly hot or comfortable in temperature.

Touch

The sensation or act of coming into contact with something, typically referring to human sensory experience.

Aggressiveness

The quality of being boldly assertive or forward, sometimes resulting in hostile or violent behavior.