An increase in the quantity of capital per worker would:
a. rotate the per-worker production function outward
b. rotate the per-worker production function inward.
c. shift the per-worker production function downwards.
d. shift the per-worker production function upwards.
e. result in a rightward movement along the current per-worker production function.
e
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A country's rate of real GDP growth is 3% per year. Its population is growing 4% per year. At what rate is its real GDP per capita changing?
A. Real GDP per capita is increasing by 0.75%. B. Real GDP per capita is increasing by 7%. C. Real GDP per capita is decreasing by 1.33%. D. Real GDP per capita is decreasing by 1%.
With a human capital investment (such as the investment in going to college), the most important cost tends to be
A) foregone leisure. B) books and equipment. C) the opportunity cost of not working. D) taxes.