Suppose that an economy grows by 6 percent, total factor productivity grows by 4 percent, and the capital stock increases by 2 percent. If labor and capital are the only inputs used in production, and capital contributes 25 percent to GDP, then the labor force has risen by _____.
a. 1.5
b. 2
c. 4
d. 6
e. 8
Question 2
If two goods both had positive cross elasticities and positive income elasticities,
a. they are both normal and substitutes for one another.
b. they are both normal and complements for one another.
c. they are both inferior and substitutes for one another.
d. they are both inferior and complements for one another.
Independent assortment produces 50 percent recombinants
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British Output and Productivity Growth, 1760–1913
U.S. Output and Productivity Growth, 1870–2007
The graph of y = sqrt(x) is vertically stretched by a factor
A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ...