According to Estimates of the Aggregate Production Function, Each 1

question 8

True/False

According to estimates of the aggregate production function, each 1% increase in physical capital, holding human capital and technology constant, raises labor productivity by 0.33%.

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Definitions:

Motor Skills

Abilities involving the movement and coordination of muscles to perform activities ranging from simple to complex movements.

Implicit Memory

A type of memory in which previous experiences aid the performance of a task without conscious awareness of these previous experiences.

Classical Conditioning

A training method in which two stimuli are consistently associated with each other; over time, a reaction initially caused by the second stimulus is triggered by the first stimulus alone.

Implicit Memory

A type of memory that enables us to perform tasks without conscious awareness of these previous experiences, such as procedural memory involved in riding a bike.