Which of the following statements is true?
A) Growth in technology is linear in nature.
B) Growth in land productivity is exponential in nature.
C) Growth in technology is exponential in nature.
D) Growth in labor productivity is exponential in nature.
C
Economics
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The assumption that in the long run prices and wages are fully flexible implies that the long-run aggregate supply curve is determined by ________
A) capital and labor inputs B) technology C) the natural rate of unemployment D) all of the above E) none of the above
Economics
A monopolistically competitive firm in short-run equilibrium:
A) will make negative profit (lose money). B) will make zero profit (break-even). C) will make positive profit. D) Any of the above are possible.
Economics