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SEM108 2025/04 Tee Chee Lip
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______ cause(s) the capital stock to rise, while _____ cause(s) the capital stock to fall.
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Suppose that the capital stock is 100, the depreciation rate is 10 per cent per year, and output is 25. What must the saving rate be to keep the capital stock constant?
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In the Solow growth model with population growth of 5 per cent and a labour augmenting technological progress of 3 per cent, the economy’s:
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An economy is in a steady state with capital higher than the Golden Rule level. Now the saving rate falls to a level that will achieve the Golden Rule capital stock in the long run. What will happen to the level of consumption between the initial and new steady states?
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The Golden Rule level of capital accumulation is defined as the level of the capital stock that achieves a steady state with the
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The steady state level of income per person in a country is a function of all the following EXCEPT:
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In the Solow growth model, if investment is less than depreciation, the capital stock will _____ and output will _____ until the steady state is attained.
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In the Solow model, the depreciation rate represents the:
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If the labor force is growing at a 3 percent rate and the efficiency of a unit of labor is growing at a 2 percent rate, then the number of effective workers is growing at a rate of
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When the Solow growth model includes technological progress, if all held constant, its steady-state is
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