Your boss suggests that a Cobb-Douglas production function could be a good representation of that country's income. Is your boss right?
a. Yes, you can tell by the way the income shares for each factor move in opposite directions over time.
b. No, if it were a Cobb-Douglas production function, the income shares would be constant over time.
c. The production function cannot be determined without knowing how real GDP changed over time.
d. No, if it were a Cobb-Douglas production function, the income shares would change in the same direction over time.
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142"what is the value of n? soefon11402bebe99918+19: 00esseeshop60-990 0esle
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Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?
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In microeconomics, the point at which supply and demand meet is called the blank price
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Your boss suggests that a Cobb-Douglas production function could be a good representation of that co...
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