Sample questions for midterm

Refer to table 23 9 this country s inflation rate

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4. Refer to Table 23-9. This country’ s inflation rate from 2009 to 2010 to the nearest tenth was Human capital A. is an input in the production of goods and services. B. is more tangible than physical capital. C. is the same as the quantity of labor. D. can be thought of, metaphorically, as the quality of society's textbooks, whereas technological knowledge can be thought of as the time that the population has devoted to reading textbooks. If your firm's production function has constant returns to scale, and if you double all your inputs, then your firm's productivity will A. double. B. increase but not double. C. not change. D. more than double. Suppose there are constant returns to scale. Now suppose that over time a country doubles its workers, its natural resources, its physical capital, and its human capital, but its technology is unchanged. Which of
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