When the learning-by-doing process is specified as εE = BY, then when we incorporate this technological progress into a standard neoclassical model with labor augmenting technological progress, the growth of technology ends up as a function of:
A) the size of the total labor force.
B) the level of investment.
C) the depreciation rate.
D) All of the above.
E) None of the above.
Correct Answer:
Verified
Q25: The endogenous growth models based on equipment
Q26: Externalities:
A) are incidental by-products of some other
Q27: Evidence of learning-by-doing has been found in
Q28: In both the computer memory chip industry
Q29: A learning curve relates:
A) the costs of
Q31: The learning-by-doing model:
A) exhibits increasing returns to
Q32: What comes first, basic scientific research or
Q33: Technological progress:
A) is similar no matter where
Q34: Paul Romer's definition of technology includes:
A) institutions.
B)
Q35: The Solow residual is estimated using the
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