Consider the Romer model of ideas seen in lectures. Ideas are accumulated following AA = 0LA, with 0 = OL^-'A®. Assume that A = 1. In this case o an increase in the number of researchers La increases the rate at which each researcher finds a new idea an increase in the number of researchers La lowers the rate at which each researcher finds a new idea o an increase in the number of researchers La has no effect on the rate at which each researcher finds a new idea O None of the above

Consider the Romer model of ideas seen in lectures. Ideas are accumulated following AA = 0LA, with 0 = OL^-'A®. Assume that A = 1. In this case o an increase in the number of researchers La increases the rate at which each researcher finds a new idea an increase in the number of researchers La lowers the rate at which each researcher finds a new idea o an increase in the number of researchers La has no effect on the rate at which each researcher finds a new idea O None of the above

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 1PA

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