The per worker production function shows the relationship between
A) the labor force and the capital stock.
B) the supply of labor and the population.
C) the hours worked and the number of workers.
D) real GDP per worker and capital per worker.
D
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Using Figure 9.1, explain what a firm would do in the short run if the market price of its product dropped below P1
What will be an ideal response?
What is the length of a term for the Chairman of the Board of Governors?
A) one year B) four years C) 14 years D) 28 years
Does a tax on sellers affect the supply curve?
A. Yes, it shifts to the left by the amount of the tax.
B. Yes, it shifts to the right by the amount of the tax.
C. Yes, it shifts up by the amount of the tax.
D. No, there is change in the quantity supplied, but the supply curve does not move.
A demand schedule relates prices of a particular good to quantities demanded
a. True b. False Indicate whether the statement is true or false