Multiple Choice
Suppose that growth in output that can be attributed to growth in labor and capital is 3%. If output grows at a rate of 3%, it must be the case that:
A) growth in labor force exceeds growth in capital.
B) the economy is experiencing technological progress.
C) growth in capital exceeds growth in labor.
D) labor is not becoming more productive.
Correct Answer:
Verified
Correct Answer:
Verified
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