Explain why it may be advantageous to have technological change explained by, rather than outside of, a growth model
What will be an ideal response?
This may be difficult for students to grapple with, but to the extent that the instructor emphasizes this issue in lecture, the student may be expected to understand the importance of technological change and how it occurs as being a crucial issue for development.
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The labor force participation rate is
a. the civilian labor force as a percentage of the civilian non institutional population. b. the non institutional population as a percentage of the total labor force. c. the civilian labor force as a percentage of the total labor force. d. employed workers as a percentage of the civilian non institutional population.
Income transfers directly alter the mix of output and answer the question of WHAT is produced question.
Answer the following statement true (T) or false (F)