One reason to believe that the marginal product of capital may be constant is that
A) capital and labor are substitutes in production
B) physical capital and human capital may be complementary inputs
C) firms treat unsold output as inventory investments
D) beyond the optimal level, the extra output produced by another machine is always zero
E) technology rarely changes
Correct Answer:
Verified
Q6: The next questions refer to the following.
Suppose
Q7: The next questions refer to the following.
Suppose
Q8: Empirically,in recent decades
A) convergence has taken place
Q9: The next questions refer to the following.
Suppose
Q10: In the endogenous growth model with constant
Q12: The observation that poorer nations grow more
Q13: Generally speaking GDP per capita
A) Is higher
Q14: Which of the following is the poorest
Q15: If the economy's production function is given
Q16: If convergence is occurring between rich and
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