An improvement in the quality of capital would:
a. rotate the per-worker production function upward
b. make the per-worker production function flatter.
c. shift the per-worker production function downward.
d. rotate the per-worker production function downward.
e. have no effect on the per-worker production function.
a
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Which of the following expressions equals GDP?
A) compensation of employees + consumption + depreciation + net investment B) compensation of employees + net interest + rental income + depreciation + corporate profits + proprietors' income + indirect taxes - subsidies C) compensation of employees + net exports + depreciation + corporate profits D) compensation of employees + gross investment + rental income + depreciation + corporate profits + indirect taxes - subsidies
Charles Beard (1935) argued that the economic self-interest of businessmen, merchants, manufacturers, bankers and investors led them to convene at the Constitutional Convention in the late 1770s
They believed that creating a new, or at least modified, system of laws would help them advance the projects in which they were interested at minimal cost. Indicate whether the statement is true or false