TRUE/FALSE(a) There exists a positive correlation between the rate of growth in real income per capita and the level of real income per capita.TrueFalse(b) Assuming the population growth rate, savings rate, and total factor productivity are constant, the growth rate of aggregate economic variables equals thpopulation growth rate.TrueFalse(c) An increase in the savings rate always causes consumption per worker to decrease in the Solow growth model.TrueFalse(d) The Malthusian growth model predicts that the standard of living can increase in the long run only if population growth is reduced by governmentalpopulation control.TrueFalse(e) In the Solow growth model, the golden rule savings rate maximizes output per worker in the steady state.TrueFalse(f) A country that increases its savings rate will experience higher long-run growth in income.TrueFalse

The value difference between all goods and services produced during a certain time period and those…

TRUE/FALSE (a) There exists a positive correlation between the rate of growth in real income per capita and the level of real income per capita. True False (b) Assuming the population growth rate, savings rate, and total factor productivity are constant, the growth rate of aggregate economic variables equals population growth rate. True False (c) An increase in the savings rate always causes consumption per worker to decrease in the Solow growth model. O True False (d) The Malthusian growth model predicts that the standard of living can increase in the long run only if population growth is reduced by governmental population control.

TRUE/FALSE (a) There exists a positive correlation between the rate of growth in real income per capita and the level of real income per capita. True False (b) Assuming the population growth rate, savings rate, and total factor productivity are constant, the growth rate of aggregate economic variables equals population growth rate. True False (c) An increase in the savings rate always causes consumption per worker to decrease in the Solow growth model. O True False (d) The Malthusian growth model predicts that the standard of living can increase in the long run only if population growth is reduced by governmental population control.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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