16) The figure above represents an economy with a population growing at rate n with an unchanging labour force participation rate. The rate of technological progress is a and the rate of depreciation is ?. In the steady state of this model, output per unit la
Answer is:
will grow at the rate a.
Related Macro Economics MCQ (GK Set-1) with Answers
Answer is:
is the difference between the rate of growth of output and the rate of growth of inputs
Answer is:
equip new units of effective workers at the same capital per unit effective labour ratio.
Answer is:
A: constant B: diminishing
Answer is: