An increase in ________ shifts ________ the production function, and makes it possible to produce a higher level of GDP with ________ capital per hour worked.
A)technology; down; the same amount of
B)technology; up; the same amount of
C)consumption; up; a lesser amount
D)labour productivity; down; the same amount of

Question

Quizplus · Accepted Answer

An increase in technology shifts the production function upwards, meaning that for any given amount of capital per hour worked, a higher level of GDP can be produced.

An Increase in ________ Shifts ________ the Production Function, and Makes

An Increase in Shifts the Production Function, and Makes