Topic 9 MCQ Question (MACRO).docx - Topic 9 MCQ...

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Topic 9 MCQ Question (Long-run Economic Growth) 1.Suppose the current level of output is 5000. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, a 10% increase in capital combined with a 5% increase in labor and a 5% increase in productivity would increase the current level of output to a.5015. b.5575. c.6000. d.5325.
2.Labor productivity increased so much in the second half of the 1990s because of
3.Edward Denison's analysis of the American economy found that

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