Solved

Suppose the Economy's Production Function Is Y = a

Question 8

Multiple Choice

Suppose the economy's production function is Y = A Suppose the economy's production function is Y = A . If K = 2000,N = 100,and A = 1,then Y = 246.If K and N both rise by 20%,and A is unchanged,by how much does Y increase? A) 5% B) 10% C) 15% D) 20% . Suppose the economy's production function is Y = A . If K = 2000,N = 100,and A = 1,then Y = 246.If K and N both rise by 20%,and A is unchanged,by how much does Y increase? A) 5% B) 10% C) 15% D) 20% If K = 2000,N = 100,and A = 1,then Y = 246.If K and N both rise by 20%,and A is unchanged,by how much does Y increase?


A) 5%
B) 10%
C) 15%
D) 20%

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q19: The type of unemployment for which the

Q20: A winter ice storm has paralyzed the

Q21: A beneficial oil-price shock increases labor demand.What

Q38: Suppose the marginal product of labor in

Q40: Cyclical unemployment arises when<br>A)unskilled or low-skilled workers

Q41: Full-employment output is the level of output

Q52: The fact that the production function relating

Q54: Frictional unemployment arises when<br>A)unskilled or low-skilled workers

Q58: An increase in the real wage rate

Q108: According to Okun's law,if output grew 1%