For a neoclassical growth model, which of the following statements is FALSE?
A. an increase in the savings rate will increase the steady-state growth rate of aggregate output
B. an increase in population growth will increase the steady-state growth rate of aggregate output
C. an increase in population growth will reduce the steady-state level of income per capita
D. if poor countries save at the same rate as rich countries and have access to the same technology, they will eventually catch up
E. long-run growth results from improvements in technology
查看答案
In the neoclassical growth model, an increase in the savings rate
A. raises the steady-state level of output
B. lowers the steady-state level of output
C. raises the long-term economic growth rate
D. lowers total factor productivity
E. both A) and C)
From 1973 to 1992, by how much more did GDP grow in Japan than in the United States?
A. 0.1
B. 0.22
C. 0.36
D. 0.54
E. 0.66
Which of the following countries had the lowest ratio of investment to GDP in 1992?
A. Japan
B. Norway
C. Singapore
D. Taiwan
E. United States
Assume a Cobb-Douglas production function where the share of capital and labor is each 1/If the growth in total factor productivity is zero and labor and capital each grow by 2%, then
A. output growth is 4% and the marginal product of capital is Y/K
B. output growth is 2% and the marginal product of capital is Y/(2K)
C. output growth is 2% and the marginal product of labor is (2Y)/N
D. output growth is 1% and the marginal product of labor is Y/(2N)
E. output growth is 1% and the marginal product of capital is (2Y)/K
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