Which of the following equations best represents the concept of constant returns to scale?
A) 3Y = AF(3K, 3L)
B) 2Y = 2AF(2K,2 L)
C) 1/4Y = (AF / 4 )(4K, 4L)
D) 5Y = [AF(K, L)] / 5
A
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Which of the following is FALSE about private savings and government savings?
A) SP = Y - T - C B) Unlike private saving decisions, government saving decisions are often made with an eye toward their effect on output and employment. C) Total savings (S) = SP + . D) The national income identity can help us to analyze the channels through which government saving decisions influence macroeconomic conditions. E) None of the above; all statements are true.
What measures would likely lower infant mortality rates in the United States?
a. Prenatal care programs in low-income neighborhoods. b. Reduced drug use among expectant mothers. c. Better nutrition. d. Delaying childbearing beyond the teen-age years. e. All of the above.