If capital per hour of labor increases, GDP per hour of labor
A) increases because the level of technology advances.
B) increases for a given level of technology.
C) changes only if technology also advances.
D) decreases for a given level of technology.
E) decreases because the level of technology decreases.
B
Economics
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Refer to Figure 9.5. If the government establishes a price floor of $2.50 and farmers grow only the amount of berries that will be sold, total consumer and producer surplus will be
A) $1.50. B) $300. C) $450. D) $500. E) $600.
Economics
Some goods can be classified as either public goods or private goods depending on the circumstances
a. True b. False Indicate whether the statement is true or false
Economics