Worksheetsquiz Macro 3 ENG
Total questions: 6
Worksheet time: 3mins
Name
Class
Date
1.
Every year the economy grows by 2%. In how many years will this economy double in size (according to the rule of 70)?
(a)
2.
Production function: Y=AK0.4L0.6 . It is known that the output grows by 3.6% every year, capital grows by 2%, labor grows by 3%. By what percentage does total factor productivity increase?
(a)
3.
The Solow model considers four factors of production
a)
True
b)
False
4.
The Solow model assumes that the depreciation rate depends on investment
a)
True
b)
False
5.
In the Solow model, the population growth rate is assumed to be constant
a)
True
b)
False
6.
Production function Y=AK0.3L0.6 corresponds to the assumptions of the Solow model
a)
True
b)
False
100 %
