In the absence of productivity growth, in a steady-state economy
a. output per worker and consumption per worker remain constant over time.
b. output per worker and consumption per worker both grow over time.
c. output per worker remains constant over time, but consumption per worker grows over time.
d. output per worker grows over time, but consumption per worker remains constant over time.
Answer: A
FIN 201
- Whether real seignorage revenue increases when the rate of money growth increases depends on whether
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