Suppose an economy is at its steady-state equilibrium and there is a permanent reduction in the saving rate of the economy. In this case, as the economy approaches its new steady state, capital per worker will _ and output per worker will _.

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27-06-2022
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Suppose an economy is at its steady-state equilibrium and there is a permanent reduction in the saving rate of the economy. In this case, as the economy approaches its new steady state, capital per worker will _ and output per worker will _.

Respuesta :

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azikennamdi azikennamdi · Answer 1 · 2022-06-29T18:46:59+02:00

In this case, as the economy approaches its new steady-state, capital per worker will increase and output per worker will decrease. This condition is true according to the Solow Growth Model.

What is the Solow Growth Model?

The Solow Growth Model references Long-Run Economic Growth in relation to Savings and Investment.

According to this model, an increase in savings translates to positive economic indicators such as reduced employment and increment in national income.

Learn more about the Solow Growth Model at:
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Suppose an economy is at its steady-state equilibrium and there is a permanent reduction in the saving rate of the economy. In this case, as the economy approaches its new steady state, capital per worker will _____ and output per worker will _____.

Respuesta :

What is the Solow Growth Model?

Otras preguntas

Suppose an economy is at its steady-state equilibrium and there is a permanent reduction in the saving rate of the economy. In this case, as the economy approaches its new steady state, capital per worker will _ and output per worker will _.