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:

Accounts Receivable

Funds that clients or customers are yet to pay to a company for products or services that have already been provided or utilized.

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term liquidity.

Long-term Liabilities

Financial obligations of a business that are due more than one year in the future, such as bonds payable, long-term loans, and lease obligations.

Accounts Payable

Obligations owed by a company to its creditors or suppliers for goods and services received but not yet paid for.