In the endogenous growth model presented in the text, an increase in the efficiency of human capital accumulation
A) increases the growth rate of human capital and increases the growth rate of output.
B) increases the growth rate of human capital and decreases the growth rate of output.
C) decreases the growth rate of human capital and increases the growth rate of output.
D) decreases the growth rate of human capital and decreases the growth rate of output.
A
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Which of the following statements is true?
A) If the domestic price of a good in a country is lower than the world price, the country will become an exporter of the good. B) Whether a country becomes an importer or an exporter of a good depends only on the domestic price of the good and is independent of the world price of the good. C) If the domestic price of a good in a country is lower than the world price, the country will become an importer of the good. D) Whether a country becomes an importer or an exporter of a good depends only on the world price of the good and is independent of the domestic price of the good.
Will a large increase in the demand for a good cause a large increase in its price?
A) No; an increased demand is associated with lower prices. B) Not if the demand for the good is highly elastic. C) Not if the demand for the good is highly inelastic. D) Not if the supply of the good is highly elastic. E) Not if the supply of the good is highly inelastic.