In a Steady-State Economy with No Population Growth,output Per Worker

question 56

Multiple Choice

In a steady-state economy with no population growth,output per worker is 35,the saving rate is 20 percent,and the depreciation rate is 11 percent.The level of capital per worker is ________.

• A)64
• B)19
• C)39
• D)28

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Definitions:

Probability

The measure of the likelihood that an event will occur, quantified between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Standard Normal Distribution

A standard normal distribution characterized by a mean of 0 and a standard deviation of 1.

Values of Z

Refers to the scores derived from a standard normal distribution used in statistical analysis to determine probabilities.

Mean

The average value of a set of numbers, calculated by dividing the sum of all values by the number of values.