If capital per hour of labor decreases,real GDP per hour of labor
A) decreases because the level of technology decreases.
B) increases because the level of technology increases.
C) increases for a given level of technology.
D) decreases for a given level of technology.
E) changes only if technology also advances.
Correct Answer:
Verified
Q220: According to the law of diminishing returns,an
Q221: Labor productivity equals _.
A)real GDP × aggregate
Q222: A technological change _ and a change
Q223: A key reason why some nations show
Q224: If real GDP is $1,200 billion,the population
Q226: If a country lacks _,economic growth _.
A)a
Q227: Labor productivity equals
A)real GDP divided by the
Q228: If the level of technology rises,GDP per
Q229: Economic freedom
A)is not important for nations to
Q230: Economic freedom requires
A)that there are no regulations
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents