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Two countries, Baltonia and Polonia, have aggregate production functions in the form Y = A K1/3 ...

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Two countries, Baltonia and Polonia, have aggregate production functions in the form Y = A K1/3 ...

Two countries, Baltonia and Polonia, have aggregate production functions in the form Y = A × K1/3 × H2/3, where Y denotes total output, A denotes the level of technology, K denotes the physical capital stock, and H denotes the number of efficiency units of production. Both countries have the same number of efficiency units of labor and use the same technology. However, Baltonia has a smaller physical capital stock than Polonia does. Which of the following is likely to be TRUE in this case?

▸ The poverty rate in Baltonia is lower than that in Polonia.

▸ The GDP of Baltonia is higher than that of Polonia.

▸ The GDP of Baltonia is lower than that of Polonia.

▸ The Human Development Index of Baltonia is higher than that of Polonia.

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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tls043 Author

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This helped my grade so much Perfect

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Good timing, thanks!

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Thanks for your help!!

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