Indicate whether each of the following statements is true or false. a. Country A's labor share is 60%, Country B's labor share is 70%, and labor is growing at a rate of 3% in both countries. Assuming capital and technology are not growing in either country, Country B has a higher growth rate of output. (Click to select) ▼ b. Country A's labor share is 40%, Country B's labor share is 70%, and labor is growing at a rate of 10% in country A and 6% in country B. Assuming capital and technology are not growing in either country, Country A has a higher growth rate of output. (Click to select) c. Labor is growing at a negative rate in country A and a positive rate in country B. so country B must have a higher growth rate of output. (Click to select) d. Labor and capital are both growing more quickly in Country A than in Country B, so Country A must have a higher growth rate of output. Click to select) ▼

Indicate whether each of the following statements is true or false. a. Country A's labor share is 60%, Country B's labor share is 70%, and labor is growing at a rate of 3% in both countries. Assuming capital and technology are not growing in either country, Country B has a higher growth rate of output. (Click to select) ▼ b. Country A's labor share is 40%, Country B's labor share is 70%, and labor is growing at a rate of 10% in country A and 6% in country B. Assuming capital and technology are not growing in either country, Country A has a higher growth rate of output. (Click to select) c. Labor is growing at a negative rate in country A and a positive rate in country B. so country B must have a higher growth rate of output. (Click to select) d. Labor and capital are both growing more quickly in Country A than in Country B, so Country A must have a higher growth rate of output. Click to select) ▼

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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