In a Steady-State Economy with Population Growth N and Labor-Augmenting

question 64

Multiple Choice

In a steady-state economy with population growth n and labor-augmenting technological progress g, persistent increases in standards of living are possible because the:

• A) capital stock grows faster than does the labor force.
• B) capital stock grows faster than does the number of effective workers.
• C) rate of depreciation constantly decreases.
• D) saving rate constantly increases.

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Definitions:

Authority Insistence

Refers to the extent to which an individual or entity demands obedience and adherence to power or authority.

Deduction

A logical process in which a conclusion is based on the concordance of multiple premises that are assumed to be true.

Discipline

A method of training people to obey rules or a code of behavior, using punishment to correct disobedience.

Gender Constancy

The concept that one’s gender remains the same despite changes in appearance or behavior.