Assume a Production Function with Constant Returns to Scale

question 27

Multiple Choice

Assume a production function with constant returns to scale.The share of capital in production is 1/4 and the share of labor is 3/4.If both labor and capital grow at 1.6% and the rate of technological progress is 1.2%, what is the rate of growth of real output?

• A)1)2%
• B)1)6%
• C)2)8%
• D)3)2%
• E)4)8%

---

Definitions:

Low In Self-Esteem

Characterizes individuals who have a diminished sense of personal worth or value themselves negatively.

Judgments And Behaviors

The cognitive assessments and resultant actions that an individual makes based on their perceptions and evaluations of situations or others.

Metaphysical Environment

A metaphysical environment refers to a conceptual, non-physical space where abstract ideas or philosophical considerations are explored.

Distort Reality

The act of misrepresenting or altering perceived facts or experiences, potentially leading to a skewed understanding or belief.