Which of the following describes an increase in technological knowledge ?

Related Mcqs:

The opportunity cost of growth is ?

A. a reduction in current investment B. a reduction in current consumption C. a reduction in taxes D. a reduction in current saving...

For a given level of technology, we should expect an increase in productivity within a nation when there is an increase in each of the following except ?

A. labor B. physical capital/worker C. human capital/worker D. natural resources/worker...

If a production function exhibits constant returns to scale ?

A. doubling all of the inputs more than doubles output due to the catch-up effect B. doubling all of the inputs has absolutely no impact on output because output is constant C. doubling all of the inputs less than doubles output due to diminishing returns D. doubling all of the input’s doubles output...

Which of the following statements regarding the impact of population growth on productivity is true ?

A. There is no evidence, yet that rapid population growth stretches natural resources to the point that it limits growth in productivity B. All of these answers C. Rapid population growth may dilute the capital stock lowering productivity D. Rapid population growth may promote technological progress increasing productivity....

Our standards of living is most closely related to ?

A. how hard we work: B. our supply of capital because everything of value is produced by machinery C. our productivity because our income is equal to what we produce D. our supply of natural resources because they limit production...