Figure 6.2: Romer Model: Per Capita Output

question 96

Multiple Choice

Figure 6.2: Romer Model: Per Capita Output
-In the ideas sector production function, , there are:

• A) increasing returns to the ideas stock but decreasing returns overall.
• B) decreasing returns to the ideas stock but increasing returns overall.
• C) decreasing returns to the ideas stock and labor.
• D) increasing returns to the ideas stock and labor.
• E) None of these answers is correct.

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Definitions:

Invitation to Treat

An invitation for parties to make offers or negotiate, which itself does not bind the parties to a contract.

Newspaper Offer

A promotional or sales offer made through a newspaper, typically involving products or services at discounted rates.

Revocation

The official cancellation or withdrawal of an offer, agreement, or license, rendering it null and void.

Communicated

The act of conveying, transmitting, or exchanging information or ideas through various means.