Multiple Choice
In a small European country,it is estimated that changing the level of capital from $8 million to $10 million will increase real GDP from $2 million to $3 million.If the number of hours worked in the labor force does not change,what does this information tell you about the slope of the per-worker production function in this range?
A) The slope is -2.
B) The slope is 1/2.
C) The slope is 2.
D) The slope is 4.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: During which of the following periods was
Q4: GDP in a country grew from $10
Q5: How do economic growth rates affect a
Q6: Paul Romer,an economist at Stanford University,is most
Q7: According to Nobel laureate Douglass North,one reason
Q9: Because of the productivity slowdown in the
Q10: In a small Asian country,it is estimated
Q11: Until recently,many developing countries<br>A)were quite open to
Q12: Technological improvements are more likely to occur
Q13: Despite the improvements in information technology,productivity growth