In the Solow Growth Model with No Population Growth and No

question 25

Multiple Choice

In the Solow growth model with no population growth and no technological progress, the higher the steady capital-per-worker ratio, the higher the steady-state:

• A) growth rate of total output.
• B) level of consumption per worker.
• C) growth rate of output per worker.
• D) level of output per worker.

---

Definitions:

Majority Voting

A decision-making process where the option that receives more than half of the votes cast by eligible voters is chosen.

Economic Efficiency

The optimal distribution of resources to maximize productivity and fulfill consumer preferences with minimal waste.

Paradox Of Voting

The concept that in a large election, the probability of one vote being decisive is so small that rational voters have no incentive to vote.

Majority Voting

A decision-making process where the choice supported by more than half of the participants wins.