What determines output per worker in the One Country Technblogy Model? O Output is produced by all workers. O Output per worker depends on education and capital, even though it is not specified in the model. O Output per worker depends on the productivity of the country and the fraction of workers producing output. O Output per worker depends only on productivity of the average worker.

What determines output per worker in the One Country Technblogy Model? O Output is produced by all workers. O Output per worker depends on education and capital, even though it is not specified in the model. O Output per worker depends on the productivity of the country and the fraction of workers producing output. O Output per worker depends only on productivity of the average worker.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 35P: Say that the average worker in the U.S. economy is eight times as productive as an average worker in...

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For an economy described by the production model where labor's share of income is constant and equal to 2/3, the rate of increase of wages will be equal to Select one or more: a. The rate of increase of A or total factor productivity plus 2/3 times the rate of increase of capital per worker. O b. The rate of increase of 2/3 times output per worker. C. The rate of increase of output per worker. n d. The rate of increase of A or total factor productivity plus 1/3 times the rate of increase of capital per worker. Consider a CES production function with the elasticity of substitution equal to 2. What happens to the capital payment share if the rental to wage ratio rises? Select one: O a. It does not change. O b. It increases. O c. Not enough information is given to answer this question. O d. It decreases.
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