Assume the production function takes the general form (as in lecture notes) Y=zxF(K,L, A) where all marginal products are positive. Which 3 of the following statements are correct? Select one or more: a. If A is fixed, then population growth acts as a drag on growth of output per person. b. If A is fixed, then population growth acts as a drag on growth, and so Malthus was correct that population growth will always reverse the impact of technological improvements. c. Both rises in z and rises in K/L (capital intensity) will boost output per worker.

Assume the production function takes the general form (as in lecture notes) Y=zxF(K,L, A) where all marginal products are positive. Which 3 of the following statements are correct? Select one or more: a. If A is fixed, then population growth acts as a drag on growth of output per person. b. If A is fixed, then population growth acts as a drag on growth, and so Malthus was correct that population growth will always reverse the impact of technological improvements. c. Both rises in z and rises in K/L (capital intensity) will boost output per worker.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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