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5 Jan 2018
Explain whether the statements below is True or False.
A6-2. If an aggregate production function exhibits diminishing marginal product and constant returns to scale then a doubling of the labour force leads to a doubling of aggregate output.
A6-3. Neoclassical growth theory tells us that the widespread adoption of new technologies will increase potential GDP and potential GDP per worker.
A6-6. An economy that is open to capital flows has two channels for the monetary transmission mechanism, while an economy closed to capital flows has only one. [Hint: Explain in the context of an increase in interest rates in both types of economies.]
Thank you so much.
Explain whether the statements below is True or False.
A6-2. If an aggregate production function exhibits diminishing marginal product and constant returns to scale then a doubling of the labour force leads to a doubling of aggregate output.
A6-3. Neoclassical growth theory tells us that the widespread adoption of new technologies will increase potential GDP and potential GDP per worker.
A6-6. An economy that is open to capital flows has two channels for the monetary transmission mechanism, while an economy closed to capital flows has only one. [Hint: Explain in the context of an increase in interest rates in both types of economies.]
Thank you so much.
5
answers
0
watching
243
views
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teacherrecoLv10
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Elin HesselLv2
6 Jan 2018
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