The Difference Between Total Factor Productivity (TFP) in the Solow

question 107

Multiple Choice

The difference between total factor productivity (TFP) in the Solow model and the stock of ideas in the Romer model is that:

• A) TFP grows and ideas are fixed.
• B) TFP is fixed and ideas can grow.
• C) TFP is nonrivalrous and ideas are not.
• D) TFP is rivalrous and ideas are not.
• E) There is no difference.

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Definitions:

Norris-LaGuardia Act

A 1932 United States federal law that limited the use of court injunctions against non-violent labor disputes and marked a shift towards the protection of workers' rights to organize.

Unionization Efforts

Initiatives and campaigns aimed at forming or joining labor unions in order to secure better wages, working conditions, and benefits for workers.

Union Shop Agreements

Contracts requiring all employees of a business to join the union within a certain period of starting employment and to maintain membership as a condition of employment.

Wagner Act

Also known as the National Labor Relations Act of 1935, this law established the rights of employees to form unions, engage in collective bargaining, and participate in strikes and other concerted activities.