题目内容

Countries with higher saving rates may have higher equilibrium growth rates since

A. people who save more also are more industrious
B. higher income allows for more savings
C. a higher saving rate allows for more investment in human capital which ultimately enhances economic growth
D. having more capital equipment is more important than having better capital equipment
E. none of the above

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A production function with constant returns to scale for capital alone implies that

A. there are increasing returns to scale for all factors of production taken together
B. if all inputs are doubled then output will more than double
C. smaller firms are more efficient than larger firms
D. technological advances cannot take place
E. both A) and B)

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If we have an aggregate production function of the form Y = aK, at what capital-labor ratio can a steady-state equilibrium be reached?

A. k = sa - (n + d)
B. k = sa + (n - d)
C. k = sa/(n + d)
D. k = ay/(n + d)
E. never

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Assume we have a simple endogenous growth model where technology is labor augmenting, that is, Y = F(K,AN), and also proportional to the capital-labor ratio, such that y = ak. In this case, the growth rate of GDP per capita can be expressed by

A. sa + (n + d)
B. sa - (n + d)
C. sa - (n + d)k
D. sa + (n - d)k
E. sk - (n + d)a

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Assume an endogenous growth model with labor augmenting technology. The production function is Y = F(K,AN) with A = 2(K/N), so y = 2k. If the savings rate is s = 0.05 and there is neither population growth nor depreciation of capital, what is the growth rate of output?

A. 0.025
B. 0.05
C. 0.1
D. it cannot be determined

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