The Solow growth model assumes that the production function exhibitsA decreasing retu
The production function Q = 50K0.75L0.75 exhibitsA decreasing returns to scale.B incr
According to a quite usual usage, the production function pertains to the activity of the whole economy as does the transformation set T, represents the rate of production of a single final output depending on the input of capital, labor, and possibly some other non-produced inputs, exhibits ...
4. The production function y = f(k) means: A) labor is not a factor of production。 B) output per worker is a function of labor productivity. C) output per worker is a function of capital per worker。 D) the production function exhibits increasing returns to scale。 5。 When f(k)...
increases,theproductionfunctionexhibits a.increasingmarginalproduct. b.diminishingmarginalproduct. c.diminishingtotalproduct. d.Bothbandcarecorrect. ANS:BDIF:2REF:13-2NAT:Analytic LOC:CostsofproductionTOP:Diminishingmarginalproduct MSC:Definitional 34.AsAlsRadiatorCompanyaddsworkerswhilekeepingthesameamountof mac...
KunitsofcapitalandLunitsoflaborK=capital:tools,machines,andstructuresusedinproduction L=labor:thephysicalandmentaleffortsofworkers ,reflectstheeconomy’sleveloftechnology ,exhibitsconstantreturnstoscale 2HAPTER3NationalIncome 3HAPTER3NationalIncome Returnstoscale:Areview ...
For the cost function C = q0.8 v0.4 w0.6 demonstrate whether the following statements are true or false: a) The function exhibits decreasing average cost. b) The function is homogeneous of degree 1 in v and w. c) The...
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(A)Private ownership of resources (B)Equitable distribution of income (C)Taxation of personal income (D)Reliance on public goods (E)Government-guided resource allocation 【A】 考点3 Production Possibilities Curve 1(2018).Movement along a production possibilities curve shows which of the following?
The comparative balance sheets and income statement for the XYZ Company are presented in the following exhibits respectively.The Statement of Cash Flows of XYZ Company for the year 2000 is presented below:Reconciliation of Net Income to Net Cash Provided by Operating Activities :...