The growth accounting equation suggests that the growth rate of output is equal to the growth rate of ________
A) total factor productivity plus the contributions of both capital and labor
B) total factor productivity minus the rate of depreciation
C) capital and labor
D) the overall population
A
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The marginal product of labor (measured in units of output) for Expando Corp is given by MPN = A(400 - N)
where A measures productivity and N is the number of labor hours used in production. Suppose the price of output is $3 per unit and A = 2.0. What will be the demand for labor if the nominal wage is $18? A) 57 B) 107 C) 197 D) 397
Which of the following antebellum transportation innovations earned the greatest rate of return?
a. corporate-owned turnpikes b. the National Road c. the Erie Canal d. the Mainline Canal
Savings is considered the portion of income:
A. that is not immediately spent on consumption of goods and services. B. that is spent on productive inputs, such as factories, machinery, and inventories. C. that is placed in an individual's savings account. D. in any interest-bearing account.
Other things equal, when the Fed raises the reserve requirement, the banking system's excess reserves will fall, the deposit expansion multiplier will decline, and the money supply will decrease
a. True b. False Indicate whether the statement is true or false