question archive Everything else is the same, a country that is more efficient at producing goods and services is expected to: a
Everything else is the same, a country that is more efficient at producing goods and services is expected to: a
Subject:EconomicsPrice: Bought3
Everything else is the same, a country that is more efficient at producing goods and services is expected to:
a. be richer in the short run and grow faster in the long run.
b. be poorer in the long run but grow faster in the short run.
c. be richer in the long run but grow slower in the short run.
d. be richer in the long run and grow faster in the short run
The Solow model differs from Malthusian model in which of the following aspect?
a. The production function in the Solow model displays increasing returns to scale, while that in the Malthusian model is constant returns to scale.
b. In the Solow model, capital,which can increase over time, replaces land as the major input of production.
c. Technology improves constantly in the Solow model while stays the same in the Malthusian model.
d. Unlike Malthusian model, population in the Solow model does not grow over time.
