If the slope of the per-worker production function is 1/2 in a given range, how will a $10,000 increase in capital per hour worked affect real GDP per hour worked in the same given range?
A) Real GDP per hour worked will increase by $10,000.
B) Real GDP per hour worked will increase by $5,000.
C) Real GDP per hour worked will increase by $20,000.
D) Real GDP per hour worked will decrease by $20,000.
B
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Medical malpractice law is designed to
a. encourage physicians to act as responsible agents for their patients b. punish those providers guilty of intentional misconduct c. provide an income for the insurance firms who sell malpractice insurance d. none of these choices
When one country can produce a given amount of a good using fewer inputs than any other country,
A. Specialization will definitely increase worldwide consumption possibilities. B. It always has a comparative advantage in producing the good. C. Specialization will definitely increase worldwide production possibilities. D. It has an absolute advantage in producing the good.