Which of the following constitutes an input to the Cobb-Douglas production function?
A) capital
B) labor
C) total factor productivity
D) all of the above
E) none of the above
D
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Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$7500.5$1,000$1,000$500Determine the new equilibrium real GDP following a decrease in taxes from 500 to 400 (?T = -$100).
A. $4,500 B. $4,000 C. $5,100 D. $4,900
What are the effects of two independent variables that are highly correlated? What can be done to remedy the problem?
What will be an ideal response?
According to the figure shown, Starbucks:
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.
A. has a dominant strategy to expand.
B. has a dominant strategy not to expand.
C. has first-mover advantage.
D. should wait to see what Dunkin Donuts is going to do.
When growth goes down, unemployment tends to go:
A. up shortly after, and vice versa. B. down shortly after, and vice versa. C. down at the same time, and vice versa. D. up at the same time, but remains sticky on the way down and lags behind.