Author Question: Refer to Figure 11-2. Assuming no technological change, if the United States increases ... (Read 53 times)

penza · **on:** Mar 16, 2019

Question 1

Figure 11-2

Refer to Figure 11-2. Based on the per-worker production function above, if the economy raises capital per hour worked from $35,000 to $40,000, by how much will real GDP per hour worked increase?

◦ $150
◦ $1,850
◦ $2,000
◦ $5,000

Question 2

Figure 11-2

Refer to Figure 11-2. Assuming no technological change, if the United States increases capital per hour worked by $40,000 every year between 2012 and 2016, we would expect to see

◦ real GDP per hour worked will increase by the same increment each year between 2012 and 2016.
◦ real GDP per hour worked will be lower in 2016 than it was in 2012.
◦ the per-worker production function will get flatter over time.
◦ the per-worker production function will shift up every year there is increase in capital per hour worked.

nmyers · **Reply #1 on:** Mar 16, 2019

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