In the Absence of Productivity Growth,in a Steady-State Economy

question 68

Multiple Choice

In the absence of productivity growth,in a steady-state economy

• A)output per worker and consumption per worker remain constant over time.
• B)output per worker remains constant over time, but consumption per worker grows over time.
• C)output per worker grows over time, but consumption per worker remains constant over time.
• D)output per worker and consumption per worker both grow over time.

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Definitions:

FOB Seattle

A shipping term indicating that the seller's responsibility ends when the goods are placed on board a ship at the Seattle port; the buyer is responsible for freight and risks from that point.

Risk Of Loss

Refers to the legal responsibility regarding who bears the financial burden if goods are damaged or lost during a transaction.

Risk Of Loss

The potential for an asset to decrease in value or become entirely worthless.

Shipping Terms

Conditions agreed upon by the buyer and seller regarding the delivery of goods, including the mode of transport, payment, and point of delivery.