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
E)capital stock; up; a lesser amount

Question

Quizplus · Accepted Answer

An increase in technology shifts the production function up, allowing for a higher level of GDP to be produced using the same amount of capital per hour worked.

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

An Increase in Shifts the Production Function , and Makes