Over the past year, productivity grew 2%, capital grew 1%, and labor grew 1%. If the elasticities of output with respect to capital and labor are 0.2 and 0.8, respectively, how much did output grow?
A. 1%
B. 2%
C. 3%
D. 4%
Answer: C
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In the figure above, ________ is a technologically efficient point
A) d B) f C) g D) None of the selections is correct.
A public good is
a. always depletable and excludable. b. always depletable and often excludable. c. never depletable and always excludable. d. never depletable and always nonexcludable.
Measured as a share of the economy, the size of the trade sector (exports plus imports) of the United States has
a. been increasing since 1980, but it declined during 1960-1980. b. been relatively constant during the last four decades. c. increased by about 10 percent during the last four decades. d. approximately doubled since 1980 and tripled since 1960.
Which of the following is an advantage of an indexed equity mutual fund relative to a managed equity fund?
A) Indexed funds generally have better stock pickers. B) Indexed funds engage in more detailed research. C) The compensation of those directing indexed funds is generally higher than those directing managed funds. D) Indexed funds have lower operating costs because they engage in less stock trading.