Ünite Sınavı Soruları

1. The production function is linear in capital stock.
2. The production function consists of labor and capital.
3. Capital exhibits constant returns.
4. There is a fixed level of technology.
5. A increasing, exogenous saving rate is assumed.

Which of the above is/are assumption(s) of the AK Model?

The golden rule level of capital accumulation was first articulated by ................. and it is the level of capital that maximizes the level of consumption in the steady state.

Which of the following completes the sentences above?

Which of the following developed the Schumpeterian version of endogenous growth theory?

1. Production function has increasing return to scale.
2. Two factors, labor and capital are considered.
3. Technological change is not considered.
4. There are diminishing returns to labor.
5. There are increasing returns to capital.

Which of the above are assumptions of the basic Solow model?

1. Economy operates in full employment
2. Capital-output ratio is assumed to be constant
3. Capital-labor ratio is assumed to be flexible
4. Capital can substitude labor
5. Technological progress is not considered

Which of the above is/are limititation(s) of the Harrod-Domar model?

Romer suggested that long-run growth is determined by the .......... and ............. rate of a country, rather than technological progress which is exogenously determined in the model.

Which of the following completes the sentences above?

Convergence is the hypothesis suggesting that poor countries grow faster than rich countries. There are two important types of convergence in the neoclassical model: ............. and ............... (absolute) convergence.

Which of the following completes the sentence above?