What Do You Think Would Be the Cobb-Douglas Single Best

question 12

Multiple Choice

What do you think would be the Cobb-Douglas single best prescription for poor countries to catch up with the rich?

• A)to increase their stock of capital
• B)to increase their labor force
• C)to find more efficient ways to allocate and use capital and labor
• D)to ask help of the rich countries
• E)none of the above

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Definitions:

Formal Operations

In Piaget's theory, the cognitive development stage (starting around age 12) where an individual gains the ability to think abstractly, reason logically, and form hypotheses.

Hypothetical Questions

Questions based on imagined scenarios or conditions, used to explore reactions or decisions in speculative situations.

Erik Erikson

A developmental psychologist known for his theory on the psychosocial development of human beings across eight stages from infancy to adulthood.

Newborn Infant

A baby in its first few hours or days of life, particularly from birth to one month of age.