The Romer and Solow Models Reach the Same Conclusion with Respect

question 84

Multiple Choice

The Romer and Solow models reach the same conclusion with respect to ________.

• A)output growth in the long-run
• B)the impact of changing population
• C)the effect of an increase in the saving rate
• D)the general level of prices

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Definitions:

Tax

A necessary economic duty or another sort of imposition exacted from a taxpayer by a governmental agency to allocate funds for government activities and multiple public financial needs.

Good

A tangible item that satisfies some human want or need, which can be transferred from the producer to a buyer.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved, leading to a mismatch between supply and demand.

Tax

A non-negotiable pecuniary charge or alternate levy directed at a taxpayer by a government authority to underwrite the costs of government functioning and various public funding requirements.