« previous next »

Author Question: The aggregate production function of Ritland is Y = A K0.3 H0.7. The total output produced in ... (Read 128 times)

khang

  • Hero Member
  • *****
  • Posts: 569
on: Jun 30, 2018
The aggregate production function of Ritland is Y = A  K0.3  H0.7. The total output produced in Ritland in a certain year was worth 135,000.
 
  The technology used in the country improved over the next 10 years while the capital stock and the efficiency units of labor remained approximately the same. Which of the following is likely to be true in this case?
  A) The Human Development Index of the country is likely to improve.
  B) The gross domestic product of the country is likely to increase.
  C) The gross domestic product of the country is likely to decrease.
  D) The inflation rate in the country is likely to reduce.

Question 2

Two goods are substitutes if an increase in the price of one good leads to a decrease in demand for the other.
 
  Indicate whether the statement is true or false
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
Buy Test-Bank


Fayaz00962

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

FALSE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Proteomes and their relationship to cell structure, function, and organization. Proteomes and their relationship to cell structure, function, and organization.
Cardiac Output Cardiac Output
The neural pathway responsible for the production and learning of song in the male canary. The neural pathway responsible for the production and learning of song in the male canary.
How to approximate the area of a function using midpoints How to approximate the area of a function using midpoints
Calculator Output Calculator Output
Genome annotation of predicted biological function Genome annotation of predicted biological function
Video: Virtual Enzyme Kinetics & Lineweaver Burk Plot

For a complete list of videos, visit our video library