If the Production Function in the Solow Growth Model Is

question 70

Multiple Choice

If the production function in the Solow growth model is given by q = f(human capital,physical capital) ,then in this model:

• A) there is no investment.
• B) there is no labor.
• C) labor is represented by the human capital variable.
• D) there is no depreciation.
• E) there is no economic growth.

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Definitions:

Tuition

The fee charged by educational institutions for instruction and other services.

Room And Board

Room and board refers to the combination of housing and meals that an institution, such as a university or college, provides for its residents.

Redistribution Of Wealth

The transfer of income and wealth from some individuals to others through a social mechanism such as taxation, charity, welfare, public services, land reforms, or monetary policies.

Efficiency

The extent to which time or effort is well used for the intended task or purpose, often with the minimum amount of waste, expense, or unnecessary effort.