If we assume a Cobb-Douglas production function where the share of capital is equal to 0.2 and the share of labor is equal to 0.8, then the marginal product of labor is equal to

A)

Y/N

B)

5Y/4N

C)

4Y/5N

D)

Y/4N

If we assume a Cobb-Douglas production function where the share of labor is 3/4 and the share of capital is 1/4, then the marginal product of capital can be calculated as

3Y/4K

Y/4K

4Y/K

Y/K

Assume a Cobb-Douglas production function where the share of capital 1/4 and the share of labor is each 3/4. If the growth in total factor productivity is zero and labor and capital each grow by 1%, then

output growth is 1% and the marginal product of capital is Y/4K

output growth is 1% and the marginal product of capital is Y/K

output growth is 1% and the marginal product of labor is Y/4N

output growth is 2% and the marginal product of labor is 3Y/4N

Assume a Cobb-Douglas production function, where the share of capital is 0.3 and the share of labor is 0.7. If capital grows by 3%, labor grows by 2%, and growth of total factor productivity is 1%, by how much does total output grow?

2.3%

3.3%

3.7%

6.0%

Assume a production function with constant returns to scale. The share of capital in production is 1/4 and the share of labor is 3/4. If both labor and capital grow at 1.6% and real output grows at a rate of 2.8%, what is the growth rate of total factor productivity?

A)

2.8%

B)

1.6%

C)

1.2%

D)

1.0%

Assume a Cobb-Douglas aggregate production function in which labor's share of income is 0.7 and capital's share of income is 0.3. At what rate will real output grow if labor grows at 2.0%, the capital stock grows at 1.0%, and total factor productivity increases by 1.8%?

4.8%

3.5%

3.0%

1.8%

In the neoclassical growth model, the steady-state capital-labor ratio is determined by the equation

k = sy/(n + d)

k = sy(n + d)

k = sy(n - d)

k = (n - d)/sy

In the neoclassical growth model, a steady-state equilibrium is reached if the following equation is satisfied

A)

sy = k/(n + d)

B)

sy = (n + d)

C)

sy = (n - d)k

D)

sy = (n + d)k