Multiple Choice
Suppose that growth in output that can be attributed to growth in labor and capital is 6%. If output grows at a rate of 6%, it must be the case that
A) the economy is not experiencing technological progress.
B) growth in labor force exceeds growth in capital.
C) growth in capital exceeds growth in labor.
D) the economy is experiencing technological progress.
Correct Answer:
Verified
Correct Answer:
Verified
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