For each of the following functions, describe returns to scale
a. Q = K + L
b. Q = K1/2L3/4
c. Q = K2L
a. Constant returns to scale.
b. Decreasing returns to scale.
c. Increasing returns to scale.
Economics
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What do the classical growth theory and the new growth theory predict for global growth amongst different nations? Comment on the accuracy of the predictions
What will be an ideal response?
Economics
The homoskedasticity-only F-statistic and the heteroskedasticity-robust F-statistic typically are
A) the same B) different C) related by a linear function D) a multiple of each other (the heteroskedasticity-robust F-statistic is 1.96 times the homoskedasticity-only F-statistic)
Economics