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Homework answers / question archive / 35
35. Assuming the steady state in the Solow growth model: The only way that output per labor can increase is if: A) the number of workers and technology both increase. B) the number of workers increases. C) government increases spending, D) technology increases. 36. In the Solow growth model of Chapter 8,the main determinant of output per worker is: A) kapital per worker B) government spending. C) technology per worker. D) consumer spending. 37. The short run refers to a period: A) during which capital and labor are fully employed. B) during which prices are sticky and unemployment may occur. C) of several days D) during which there are no fluctuations. 38. In the long run, the level of output is determined by the A) interaction of supply and demand. B) money supply and the levels of government spending and taxation. C) preferences of the public, D) amounts of capital and labor and the available technology. 39. An increase in taxes shifts the IS curve, drawn with income along the horizontal axis and the interest rate along the vertical axis: A) downward and to the left. B) upward and to the right C) downward and to the right. D) upward and to the left. of: 40. The Golden Rule level of capital accumulation is the steady state with the highest level A) capital per worker. B) output per worker. savings per worker. D) consumption per worker.
