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a. Country A's labour share is 60%, Country B's labour share is 70%, and labour 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 labour share is 40%, Country B's labour share is 70%, and labour 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. Labour 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. Labour 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) v

a. Country A's labour share is 60%, Country B's labour share is 70%, and labour 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 labour share is 40%, Country B's labour share is 70%, and labour 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. Labour 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. Labour 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) v

Economics: Private and Public Choice (MindTap Course List)
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter16: Creating An Environment For Growth And Prosperity
Section: Chapter Questions
Problem 14CQ
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Answer the A,B,C and D

 

Indicate whether each of the following statements is true or false. a. Country A's labour share is 60%, Country B's labour share is 70%, and labour 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) v b. Country A's labour share is 40%, Country B's labour share is 70%, and labour 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) v c. Labour 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) v d. Labour 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) v
Transcribed Image Text:Indicate whether each of the following statements is true or false. a. Country A's labour share is 60%, Country B's labour share is 70%, and labour 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) v b. Country A's labour share is 40%, Country B's labour share is 70%, and labour 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) v c. Labour 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) v d. Labour 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) v
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