In the two-sector growth models, the size of the labor force, the proportion of the labor force devoted to research, and the productivity of researchers determine the

A) investment necessary for steady-state growth.
B) steady-state capital stock.
C) growth rate of labor-augmenting technological change.
D) human capital stock.


C

Economics

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According to Keynes

A) consumption is directly related to income but saving has no relationship with income. B) consumption is directly related to income but saving is inversely related to income. C) both consumption and saving are positively related to real disposable income. D) consumption is positively related to the interest rate.

Economics

In principle, prorationing could lead to more efficient extraction of oil from the ground

Indicate whether the statement is true or false

Economics

In which situation might a company NOT want to maximize profit?

A. A small business owner who sells a highly specialized product at a high price in order to compete with more established businesses in the area B. A family-owned company that has to decide between hiring a family member and hiring a highly-qualified external candidate C. A conglomerate with a highly streamlined supply chain who sells generic goods D. A corporation that has performed poorly in the last two quarters and is looking for new upper-management

Economics

In a two-good world consider a small country whose trade follows the Heckscher-Ohlin theory. Discuss the implications of the Rybczynski theorem when the country's endowment of only one of two factors of production increases.

What will be an ideal response?

Economics