Output per person is 170 in an economy in which 15 percent of the population are engaged in research and development, where their productivity is 0.002, and the total population size is 100 million
If this economy is on a balanced growth path, then output per person in the next period will be ________. A) 175.1
B) 195.5
C) 176.2
D) 177.3
D
You might also like to view...
One bag of coffee beans is sold for $7 to a cafe that uses it to brew coffee which it sells to customers for a total of $15. A second bag of coffee is sold directly to Joan for $7, who uses it to brew coffee for her family every morning
What is the contribution to GDP from the purchases of coffee beans and coffee? A) $14 B) $29 C) $15 D) $7 E) $22
A professor changes the penalty for cheating on exams from getting a 0 on the exam to getting an F in the course. The professor has
A) decreased the marginal benefit of cheating. B) recognized that students don't make rational choices. C) increased the marginal cost of cheating. D) made all the students act in the social interest. E) recognized that students don't respond to incentives.
An adverse supply shock shifts the production function curve ________ and the labor demand curve ________
A) upward, upward B) upward, downward C) downward, upward D) downward, downward
The demand for factors of production is referred to as:
A. primary demand. B. derived demand. C. implied demand. D. production demand.