Multiple Choice
The flattening out of the production function is likely to occur
A) only in a model without capital or technology.
B) in any model where there are fixed factors.
C) only in a model without labor.
D) only in a model without technology.
E) only in a model with labor, capital, and technology.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: According to economist Daron Acemoglu, human capital
Q5: If the capital stock increases, holding constant
Q6: Productivity is defined as<br>A)output per person.<br>B)output per
Q7: In terms of encouraging technological innovation, the
Q8: The rationale for developing a model in
Q10: What makes technology distinct from other commodities?<br>
Q11: Innovations apply only to new types of
Q12: Explain why the contribution of capital per
Q13: How does the theory of economic growth
Q14: Diminishing returns to labor exists<br>A)in any economy.<br>B)only