In the Absence of Technological Progress,a Decrease in the Saving

question 21

Multiple Choice

In the absence of technological progress,a decrease in the saving rate will cause which of the following?

• A)decrease temporarily the growth of output per worker
• B)decrease the steady state growth of output per worker
• C)increase temporarily the growth of output per worker
• D)increase the steady state growth of output per worker
• E) have an ambiguous effect on the growth of output per worker

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Definitions:

Debits And Credits

Fundamental accounting concepts that are used in double-entry bookkeeping, where debits must equal credits in every transaction.

Journal Entries

Accounting records that document all financial transactions in the order they occur, ensuring accurate tracking of business operations.

Posting

The process of recording financial transactions in the ledger of an accounting system.

Trial Balance

An accounting worksheet that sums up the balances from all ledgers into equal debit and credit column figures.