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NYC NYC
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8 years ago
Suppose that growth in output that can be attributed to growth in labor and capital is 5%. If output grows at a rate of 5%, it must be the case that:
A) growth in labor force exceeds growth in capital.
B) the economy is not experiencing technological progress.
C) growth in capital exceeds growth in labor.
D) the economy is experiencing technological progress.
Textbook 
Principles of Macroeconomics

Principles of Macroeconomics


Edition: 11th
Authors:
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JesslynJesslyn
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8 years ago
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NYC Author
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#2
8 years ago
Thanks for answering Slight Smile
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