Refer to Figure 22-2. Based on the per-worker production function above, if the economy raises capital per hour worked from $35,000 to $40,000, by how much will real GDP per hour worked increase?
A) $150 B) $1,850 C) $2,000 D) $5,000
A
You might also like to view...
The heart of the supply-side economic program was to
A. raise taxes. B. lower taxes. C. raise government spending. D. put people to work in government jobs.
A sustained decrease in the price level is known as
A) inflation. B) disinflation. C) reflation. D) deflation.
A grocery store cannot sell Campbell Soup if it also sells other brands of soup. This is an example of:
a. resale price maintenance. b. territorial restrictions. c. a tying agreement. d. exclusive dealing.
In the summer of 1953, the Korean War ended and government expenditures decreased. In terms of the AS/AD model, this change should have:
A. shifted the AD curve to the left. B. made the AD curve flatter. C. made the AD curve steeper. D. shifted the AD curve to the right.