龚六堂中宏Exercise.doc

1. Suppose the current level of output is 5000. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, a 10% increase in capital combined with a 5% increase in labor and a 5% increase in productivity would increase the current level of output to a. 5015. b. 5325. c. 5575. d. 6000. 2. Over the past year, productivity grew 1%, capital grew 2%, and labor grew 2%. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, how much did output grow? a. 1% b. 2% c. 3% d. 4% 3. Over the past year, productivity grew 1%, capital grew 0%, and labor grew 5%. If the elasticities of output with respect to capital and labor are 0.4 and 0.6, respectively, how much did output grow? a. 1% b. 2% c. 3% d. 4% 4. The growth accounting equation is a. Y = A aKK aNN b. Y = A F(K, N) c. ΔY/Y =ΔA/A + aK ΔK/K + aN ΔN/N d. ΔY/Y =ΔA/A - aK ΔK/K - aN ΔN/N 5. If capital and labor each grow 5 percent in a year, the elasticities of output with respect to capital and labor sum to one, and productivity grows 2 percent in the year, by how much does output grow during the year? a. 2% b. 3% c. 5% d. 7% 6. Total factor productivity (全要素生产率) growth is that part of economic growth due to a. capital growth plus labor growth. b. capital growth less labor growth. c. capital growth times labor growth. d. neither capital growth nor labor growth. 7. Over the past year, output grew 6%, capital grew 2%, and labor grew 4%. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, how much did productivity grow? a. 2.0% b. 2.6% c. 3.0% d. 3.3% 8. Over the past year, output grew 5%, capital grew 5%, and labor grew 1%. If the elasticities of output with respect to capital and labor are 0.5 and 0.5, respectively, how much did productivity grow? a. 0.5% b. 1.0% c. 1.5% d. 2.0% 9. In the Solow model, if productivity doesnt change, a. the economy must eventually reach a steady state. b. the capit