Based on historical economic growth, economists have noted that the estimated aggregate production function:
A) exhibits constant returns to physical capital.
B) shows that when holding the amount of human capital and the state of technology fixed, successive increases in the amount of physical capital per worker lead to smaller increases in productivity.
C) depends primarily on physical capital and technology advances.
D) shows the negative relationship between physical capital and productivity.
Correct Answer:
Verified
Q298: If the population and GDP increase by
Q299: Historically, development of a new technology often:
A)results
Q300: The value of real GDP divided by
Q301: The convergence hypothesis:
A)apparently applies only to wealthy
Q302: Use the following to answer questions:
Scenario: Capital
An
Q304: One of the most important types of
Q305: Japan's economy:
A)had higher real GDP per capita
Q306: Factors contributing to differences in countries' growth
Q307: Large technological gains often result:
A)in immediate rapid
Q308: Natural resources:
A)are still the most important factor
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents