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Macroeconomics 12th Edition by Rudiger Dornbusch, Stanley Fischer ,Richard Startz
Edition 12ISBN: 978-1259070969Macroeconomics 12th Edition by Rudiger Dornbusch, Stanley Fischer ,Richard Startz
Edition 12ISBN: 978-1259070969 Exercise 5
Suppose again that capital's and labor's shares of income are.3 and.7, respectively.
a. What would be the effect (on output) of increasing the capital stock by 10 percent
b. What would be the effect of increasing the pool of labor by 10 percent
c. If the increase in labor is due entirely to population growth, will the resulting increase in output have an effect on people's welfare
d. What if the increase in labor is due, instead, to an influx of women into the workplace
a. What would be the effect (on output) of increasing the capital stock by 10 percent
b. What would be the effect of increasing the pool of labor by 10 percent
c. If the increase in labor is due entirely to population growth, will the resulting increase in output have an effect on people's welfare
d. What if the increase in labor is due, instead, to an influx of women into the workplace
Explanation
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A production function gives a numerical ...
Macroeconomics 12th Edition by Rudiger Dornbusch, Stanley Fischer ,Richard Startz
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