In the Romer Model, the Production Function $Y _ { t } = A _ { t } L _ { y t }$

question 110

Multiple Choice

In the Romer model, the production function $Y _ { t } = A _ { t } L _ { y t }$ , where A_t is knowledge and L_yt is the amount of labor in the output sector:

• A) exhibits constant returns to labor and increasing returns to labor and knowledge
• B) exhibits constant returns to labor and increasing returns to knowledge
• C) exhibits increasing returns to labor and constant returns to labor and knowledge
• D) exhibits decreasing returns to labor and constant returns to labor and knowledge
• E) exhibits increasing returns to labor and increasing returns to labor and knowledge

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