The marginal product of labor
A) is measured by the slope of the production function relating capital to employment.
B) is larger when the labor supply is relatively larger.
C) is smaller when the labor supply is relatively smaller.
D) decreases as the number of workers already employed increases.
D
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What will be an ideal response?
The catch-up effect says that countries with low income can grow faster than countries with higher income. However, in statistical studies that include many diverse countries we do not observe the catch-up-effect unless we control for other variables
that affect productivity. Considering the determinants of productivity, list and explain some things that would tend to prohibit or limit a poor country's ability to catch up with the rich ones.