Use B as the Exponent for Physical Capital, and C

question 108

Multiple Choice

Use b as the exponent for physical capital, and c as the exponent for human capital. Assume that b = 0.25 and c = 0.60. Further assume that per person income of a rich country is 10 times that of a poor country.
-Refer to the information above.What is the value of the exponent for uneducated labor (L) ?

• A)0.75
• B)0.35
• C)0.20
• D)0.10

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Definitions:

Baking

The process of cooking food by dry heat, typically in an oven.

Division Of Labor

Breaking down the production of a good into separate tasks

Smaller Tasks

Refers to actionable items or objectives that are components of a larger project or goal.

Specialization Of Labor

The division of labor where different workers or groups of workers engage in specific tasks, often leading to increased productivity.