Other things the same, which of the following could explain an increase in productivity?
a. either an increase in human capital or an increase in physical capital
b. an increase in human capital but not an increase in physical capital
c. an increase in physical capital but not an increase in human capital
d. neither an increase in human capital nor an increase in physical capital
a
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Where the planned expenditure and the 45-degree lines intersect, the economy is ________ equilibrium, with unplanned inventory investment equal to ________
A) in, zero B) out of, zero C) in, planned inventory investment D) in, autonomous planned expenditure E) out of, autonomous planned expenditure
A positive externality arises in a situation where a third party, who is not part of a market transaction, _____
a. fails to allocate resources efficiently b. suffers from a market transaction by others c. benefits from a market transaction by others d. pays a pollution tax to balance social costs