Suppose the growth rate of GDP in the United States is 4.2 percent. If 1.1 percent and 1.4 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is

What is the main potential benefit of water markets?

a. More water is available for ecological uses b. Water is used for its most highly-valued purposes c. Underground aquifers can become replenished d. More water is available for lower-income households e. Water use is managed by a centralized agency

In the long run, a firm is said to be experiencing decreasing returns to scale if a 10 percent increase in inputs results in

A) an increase in output from 100 to 110. B) a decrease in output from 100 to 90. C) an increase in output from 100 to 105. D) a decrease in output from 100 to 85.