An increase in the amount of capital per worker will:
a. increase labor productivity but not capital productivity
b. increase capital productivity but not labor productivity.
c. increase both labor and capital productivity.
d. shift the per-worker production function upward.
e. increase total output but not the productivity levels of individual workers.
a
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A price level increase tends to reduce net exports, thereby reducing the amount of real goods and services purchased in the United States. Economists refer to this phenomenon as
A) the barrier effect. B) the Gross Domestic Product (GDP) effect. C) the open-economy effect. D) the wealth effect.
Which of the following statements is true?
A) According to the labor supply curve, as the real wage rises, more workers leave the labor force. B) According to the labor supply curve, as the real wage rises, employers are willing to provide fewer jobs. C) According to the labor supply curve, as the real wage rises, workers are willing to provide fewer hours of labor. D) According to the labor supply curve, as the real wage rises, workers are willing to provide more hours of labor. E) According to the labor supply curve, as the real wage rises, employers are willing to provide more jobs.
Placing restrictions on business opportunities through government licensing and other controls
(a) is not allowed now and never has been in American history. (b) is not allowed now but was provided for by the Constitution and allowed until the 20th century. (c) is allowed now but was not allowed during the colonial period nor in the decades immediately following the establishment of the new nation. (d) has always been allowed in American history.
Which of the following statements about population and migration is most accurate?
a. In the first decade after the Civil War many of the freedmen moved to the North. b. During most of US history more African Americans have lived in rural than urban areas. c. Latinos are expected to comprise a smaller fraction of US population in 2025 than they do now. d. Between 1810-1850 the population center of the US shifted from the Midwest to the east.