13) In the Solow model with population growth but no technological progress, long run growth in GDP is possible if a) The production function exhibits constant returns to scale b) The production function exhibits constant returns to capital accumulation c) The production function exhibits diminishing returns to capital accumulation d)All of the above
13) In the Solow model with population growth but no technological progress, long run growth in GDP is possible if a) The production function exhibits constant returns to scale b) The production function exhibits constant returns to capital accumulation c) The production function exhibits diminishing returns to capital accumulation d)All of the above
Chapter1: Making Economics Decisions
Section: Chapter Questions
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![13) In the Solow model with population growth but no technological
progress, long run growth in GDP is possible if
a) The production function exhibits constant returns to scale
b) The production function exhibits constant returns to capital
accumulation
c) The production function exhibits diminishing returns to capital
accumulation
d) All of the above](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F50d9d488-3a50-4906-ab4d-b22eab9178fe%2F302bd308-cf7c-432f-9155-ef0e3f1bf5e9%2F89flwxo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:13) In the Solow model with population growth but no technological
progress, long run growth in GDP is possible if
a) The production function exhibits constant returns to scale
b) The production function exhibits constant returns to capital
accumulation
c) The production function exhibits diminishing returns to capital
accumulation
d) All of the above
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