Suppose There Are Two Countries That Are Identical with the Following

question 23

Multiple Choice

Suppose there are two countries that are identical with the following exception.The saving rate in country A is greater than the saving rate in country B.Given this information,we know that in the long run

• A)the capital-labor ratio (K / N)will be greater in B than in A.
• B)the capital-labor ratio (K / N)will be greater in A than in B.
• C)the capital-labor ratio (K / N)will be the same in the two countries.
• D)economic growth will be higher in A than in B.

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Definitions:

Human Capital

The aggregate of abilities, expertise, and non-material assets held by people that can generate economic benefits for themselves, their employers, or their society.

Ethical Behavior

Acting in ways consistent with what society and individuals typically think are good values, such as honesty, fairness, and integrity.

Working Independently

The ability to perform tasks and make decisions without direct supervision, often implying self-motivation and discipline.

Definition Of Jobs

Detailed descriptions of the roles, responsibilities, expectations, and parameters of a specific position within an organization.