Suppose that growth in output that can be attributed to growth in labor and capital is 3%. If output grows at a rate of 5%, it must be the case that:
A) the economy is not spending enough on acquiring human capital.
B) growth in capital exceeds growth in labor.
C) both labor and capital are becoming more productive.
D) growth in labor exceeds growth in capital.
Correct Answer:
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Q43: Which of the following is not an
Q44: Q45: Saving is defined as: Q46: Recall Application 2, "Growth Need Not Cause Q47: Recall Application 5, "The Role of Political Q49: Education can contribute to economic growth through: Q50: Recall Application 6, "Culture, Evolution, and Economic Q51: In the Solow Model, an increase in Q52: Recall Application 3, "Sources of Growth in Q53: Convergence refers to the hypothesis that:
A) income that is
A)
A) it
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