Use the figure below to answer the following question.
Figure 6.3.3
-Refer to Figure 6.3.3.The graph shows the effect of _______ As a result _______.
A) an increase in the population; potential GDP increases and potential GDP per hour of labour decreases
B) a decrease in the population; potential GDP decreases and potential GDP per hour of labour increases
C) an increase in labour productivity; potential GDP increases and potential GDP per hour of labour does not change
D) an increase in labour productivity; potential GDP increases and potential GDP per hour of labour decreases
E) an increase in labour productivity; potential GDP and potential GDP per hour of labour increase
Correct Answer:
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Q48: If an increase in capital increases labour
Q49: Ceteris paribus, an increase in labour productivity
Q50: If real GDP is $12,150 billion and
Q51: When the population increases with no change
Q52: An increase in labour productivity _ the
Q54: Use the figure below to answer the
Q55: Labour productivity is
A)shown as a movement along
Q56: When labour productivity increases, the demand for
Q57: An increase in population
A)creates a movement along
Q58: Ceteris paribus, an increase in the population
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