« previous next »

Author Question: Suppose the aggregate production function is represented by Y = AN. Which of the following ... (Read 140 times)

audragclark

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
Suppose the aggregate production function is represented by Y = AN. Which of the following expressions represents the number of additional workers required to increase production by one unit?
 
  A) 1/A
  B) Y/N
  C) 1/N
  D) 1/Y
  E) none of the above

Question 2

Explain the difference between endogenous and exogenous variables.
 
  What will be an ideal response?


taylorsonier

  • Sr. Member
  • ****
  • Posts: 377
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

Endogenous variables are determined by the model. Exogenous variables are taken as given and, for example in this model, do not change as income changes.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Body plan of an echinoderm, as represented by a sea star. Body plan of an echinoderm, as represented by a sea star.
How to determine if a table of values represents a function How to determine if a table of values represents a function
To satisfy the inequality, sketch the following function by hand and shade the graph regions. To satisfy the inequality, sketch the following function by hand and shade the graph regions.
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ... Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...
Effects of disrupted growth hormone function Effects of disrupted growth hormone function
Video: Interview with an Anorexic Woman (Part 1 of 2)

For a complete list of videos, visit our video library