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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 4%. If output grows at a rate of 7%, it must be the case that:
A) the economy is not spending enough on acquiring human capital.
B) growth in labor exceeds growth in capital.
C) the economy is experiencing technological progress.
D) growth in capital exceeds growth in labor.
Textbook 
Principles of Macroeconomics

Principles of Macroeconomics


Edition: 11th
Authors:
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JesslynJesslyn
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NYC Author
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#2
8 years ago
Perfect answer, thank you
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