Multiple Choice
The fundamental logic behind the AK model is:
A) there are no diminishing returns when there is technological progress.
B) there is permanent economic growth when there is technological progress.
C) there are no diminishing returns when all factors are reproducible.
D) there is no economic growth unless all factors are reproducible.
Correct Answer:
Verified
Correct Answer:
Verified
Q22: In the Cobb-Douglas production function, the closer
Q23: The reason that an increase in α
Q24: Researchers seeking to estimate total factor productivity
Q25: Technology is often described as:<br>A) a rival
Q26: The endogenous growth models based on equipment
Q28: The AK model is important because:<br>A) investment
Q29: The endogenous growth models based on equipment
Q30: When the learning-by-doing process is specified as
Q31: The Solow residual is:<br>A) usually very small.<br>B)
Q32: The creation of technology is hampered by