Suppose there are two countries that are identical with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run
A) the capital-labor ratio (K/N) will be greater in B than in A.
B) the capital-labor ratio (K/N) will be greater in A than in B.
C) the capital-labor ratio (K/N) will be the same in the two countries.
D) economic growth will be higher in A than in B.
B
Economics
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If a production function is represented as q = L? K?, the long-run average cost curve will be horizontal as long as
A) ? + ? = 0. B) ? + ? = 1. C) q > 0. D) L = K.
Economics
The following are the sales achieved by Jensen Fabrics during the last 7 years:
2007 $116,000 2008 124,000 2009 127,000 2010 146,000 2011 155,000 2012 154,000 2013 162,000 Using the compound growth rate calculation, what would be your estimate for sales in 2014?
Economics