If Capital Per Hour of Work Is Growing at a Rate

question 83

Multiple Choice

If capital per hour of work is growing at a rate of 3 percent and the government wants output per hour of work to grow at 3 percent,how high does the growth rate of technology have to be?

• A)0 percent
• B)4 percent
• C)2 percent
• D)6 percent
• E)1 percent

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Definitions:

Test Power

The probability that a statistical test will reject a false null hypothesis, a measure of a test’s effectiveness.

Sample Size

The number of observations or units included in a sample, which can influence the reliability and validity of statistical results.

Type II Error

An error resulting from failing to reject an incorrect null hypothesis.

Sample Size

The number of observations or elements chosen from a population for the purpose of statistical analysis.