If productivity growth equals 3.0 percent, the contribution from capital growth 1.2 percent and the contribution from labor growth 2.0 percent, then output growth must equal ________
A) 2.2 percent
B) 4.2 percent
C) 6.2 percent
D) 7.2 percent
C
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Refer to Figure 4-1. What is the total amount that Arnold is willing to pay for 4 burritos?
A) $1.00 B) $4.00 C) $7.00 D) $10.00
In the Solow model, if f(k) = 8k0.5, s = 0.2, n = 0.3, and d = 0.1, what is the value of k at equilibrium?
A) 1 B) 4 C) 9 D) 16
The long-run average-total-cost curve connects the lowest cost for each level of output given by the short-run average-total-cost curves
a. True b. False Indicate whether the statement is true or false
Mutually beneficial trade between two countries is possible only as long as
a. unit costs of production are the same no matter how many units are being produced b. marginal costs rise as production increases c. marginal costs are equal to average total costs d. one country has an absolute advantage in the production of one good, while the other country enjoys a similar advantage in making another good e. one country has a comparative advantage in the production of one good, while the other country enjoys a comparative advantage in making another good