If the per-worker production function shifts down,
A) the per-worker production function becomes steeper.
B) it now takes more capital per hour worked to get the same amount of real GDP per hour worked.
C) an economy can increase its real GDP per hour worked without changing the level of capital per hour worked.
D) positive technological change has occurred in the economy.
B
Economics
You might also like to view...
Normative statements
i. describe how the world is. ii. describe how the world ought to be. iii. depend on people's values and cannot be tested. A) ii only. B) i and iii. C) iii only. D) i only. E) ii and iii.
Economics
Open market purchase of government securities by the Fed increases the federal funds rate
Indicate whether the statement is true or false
Economics