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- Long Term Economic Growtheconomics-mcqs › long-term-economic-growth
- Published
- 1 Jun 2019
- Last updated
- 28 May 2026
What is the term for the growth trajectory influenced by technological advancement at a fixed saving rate?
Multiple choice question for Long Term Economic Growth. Select an option, then review the explanation below.
Explanation
The correct answer is the steady state growth path, which describes the long-term growth trend driven by technological progress when the saving rate remains constant. Other options refer to related but distinct concepts such as invention rates or output levels, which do not fully capture the growth trajectory.
More Long Term Economic Growth MCQs
Practice related questions from the same subject.
- 1.According to real business cycle theory, what is the suggested approach to address deviations from the optimal growth trajectory?
- 2.What constraint does the fact that gross investment cannot be negative place on variations in which economic measure?
- 3.According to the multiplier-accelerator model, what is investment dependent on?
- 4.Which of the following is NOT considered a phase of the business cycle?
- 5.What does the business cycle represent in terms of output variation?