When graphing the per worker production function, ________ is on the horizontal axis and ________ is on the vertical axis
A) labor; real GDP
B) the capital stock; real GDP
C) the capital-labor ratio; real GDP per worker
D) capital per worker; the labor force
C
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An increase in the rate of economic growth is likely to
A. increase the federal budget deficit. B. decrease the federal budget deficit. C. have no effect on the federal budget deficit. D. increase the federal budget deficit only if inflation decreases.
A hedge is
A) a financial strategy that reduces the change of suffering losses arising from foreign exchange risk. B) an exchange rate arrangement in which a country pegs the value of its currency to the exchange value. C) the possibility that changes in the value of a nation's currency will result in variations in the market value of assets. D) active management of a floating exchange rate on the part of a country's government.
The program that was created to provide rebates of Social Security taxes to low-income workers is
A. food stamps. B. Earned Income Tax Credit program. C. Supplemental Security Income. D. TANF.
One dollar could be exchanged for 55 rupees in 2013 and for 60 rupees in 2014. This implies that the:
A) real exchange rate did not change in 2014. B) dollar appreciated in 2014. C) nominal exchange rate did not change in 2014. D) rupee appreciated in 2014.