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SEM108 2025/04 Tee Chee Lip
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Suppose that an economy is in steady state and has more capital than it would have in the Golden Rule steady state. A policymaker would want to pursue policies aimed at decreasing
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If two economies are identical (with the same population growth rates and rates of technological progress), but one economy has a lower saving rate, then the steady state level of income per worker in the economy with the lower saving rate:
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In the Solow growth model with population growth and technological change, the break-even level of investment must cover:
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In the Solow growth model with population growth and technological progress, the economy experiences a 5 per cent “labour-augmenting technological progress” if:
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Suppose that an economy is in steady state and has more capital than it would have in the Golden Rule steady state. A policymaker would want to pursue policies aimed at:
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If two economies are identical except for their rates of population growth, then the economy with the higher rate of population growth will have:
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In the Solow model with technological progress, an increase in the rate of technological change will
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If the capital stock equals 200 units in year 1 and the depreciation rate is 5 percent per year, then in year 2, assuming no new or replacement investment, the capital stock would equal ____ units.
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If an economy is initially in a steady state and it experiences an increase in its saving rate, then the steady-state capital stock will
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Schumpeter's “creative destruction” is an explanation of economic progress resulting from:
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