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)labor productivity; down; the same amount of

Question

Quizplus · Accepted Answer

An increase in technology shifts the production function up, meaning that with the same amount of capital per hour worked, a higher level of GDP can be produced. The other options are incorrect because they do not accurately describe the relationship between the variables.

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

An Increase in Shifts the Production Function ,And Makes