【单选题】If an economy is in a steady state with no population growth or technological change and the marginal product of capital is less than the depreciation rate:
A.
the economy is following the Golden Rule.
B.
steady-state consumption per worker would be higher in a steady state with a lower saving rate.
C.
steady-state consumption per worker would be higher in a steady state with a higher saving rate.
D.
the depreciation rate should be decreased to achieve the Golden Rule level of consumption per worker.
【单选题】The economy is at potential GDP when people correctly anticipate an increase in government expenditure on goods and services. If the money wage rate adjusts immediately, then
A.
real GDP and the price level will increase in the short run, but the real wage rate will fall.
B.
real GDP remains at potential GDP.
C.
real GDP, the price level, and the real wage rate all increase in the short run.
D.
real GDP remains at potential GDP, there is no change in the price level, and the real wage rate rises in the short run.
【单选题】If an economy is in a steady state with no population growth or technological change and the capital stock is below the Golden Rule:
A.
a policymaker should definitely take all possible steps to increase the saving rate.
B.
if the saving rate is increased, output and consumption per capita will both rise, both in the short and long runs.
C.
if the saving rate is increased, output per capita will at first decline and then rise above its initial level, and consumption per capita will rise both in the short and long runs.
D.
if the saving rate is increased, output per capita will rise and consumption per capita will first decline and then rise above its initial level.