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On the Solow Diagram, an increase in productivity is shown by ________. A.an upward shift of the depreciation plus capital dilution line B.an upward shift
- On the Solow Diagram, an increase in productivity is shown by ________.A.an upward shift of the depreciation plus capital dilution line
- B.an upward shift of the investment function
- C.a downward shift of the depreciation plus capital dilution line
- D.a downward shift of the investment function
- E.none of the above
If productivity growth equals 3.0 percent, the contribution from capital growth 1.2 percent and the contribution from labor growth 2.0 percent, then output growth must equal ________.
- A.2.2 percent
- B.4.2 percent
- C.6.2 percent
- D.7.2 percent
- E.9.1 percent
Economic growth ________.
- A.is driven by different elements in different economies
- B.is driven primarily by digital technology
- C.is driven primarily by labor growth
- D.cannot be explained using economic models
- E.none of the above
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