The growth accounting equation is
A) Y = AaKK aNN
B) Y = AF(K, N)
C) ?Y/Y = ?A/A + aK?K/K + aN?N/N
D) ?Y/Y = ?A/A - aK?K/K - aN?N/N
C
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In each of the following situations, list what will happen to the equilibrium price and the equilibrium quantity for a particular product, which is a normal good
a. The price of inputs decrease b. The price of a complement increases c. The number of producers in the market increases d. Income increases e. The price of a substitute in production increases
A firm increases both its plant and its labor force by the same percentage and its average total costs remain unchanged. Is the firm experiencing increasing returns to scale, constant returns to scale, or decreasing returns to scale?
What will be an ideal response?
Child labor is a common family survival strategy, especially for farmers in rural areas where it is hard to enforce rules or to reach the poor with any supporting infrastructure or social services
Indicate whether the statement is true or false
A single firm in a competitive labor market has a labor supply curve that is
A. downward sloping. B. perfectly elastic. C. perfectly inelastic. D. upward sloping.