Multiple Choice
Suppose that growth in output that can be attributed to growth in labor and capital is 2%. If output grows at a rate of 5%, it must be the case that
A) growth in labor exceeds growth in capital.
B) growth in capital exceeds growth in labor.
C) the economy is experiencing technological progress.
D) the economy is not spending enough on acquiring human capital.
Correct Answer:
Verified
Correct Answer:
Verified
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