If Capital and Labor Each Grow 5% in a Year,the

question 48

Multiple Choice

If capital and labor each grow 5% in a year,the elasticities of output with respect to capital and labor sum to one,and productivity grows 2% in the year,by how much does output grow during the year?

• A)2%
• B)3%
• C)5%
• D)7%

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Definitions:

Self-Concept

An individual's perception of their own identity and personal characteristics.

Bundle Of Facts

A collection or compilation of information, data, or evidence, often presented together to support a conclusion, argument, or understanding.

Internal Locus of Control

The belief that one has control over their life events and outcomes, rather than external forces.

Conscious

Being aware of and responsive to one's surroundings; awake.