Author Question: Refer to Figure 22-2. Assuming no technological change, if the United States increases capital per ... (Read 111 times)

burchfield96 · **on:** Jun 29, 2018

Refer to Figure 22-2. 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

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

Question 2

Policymakers focus on marginal tax rate changes when making changes in the tax code because the marginal tax rate

A) determines how tax revenue will change as national income increases.
B) determines how much revenue the government will have to spend.
C) always equals the average tax rate which is harder to measure.
D) affects people's willingness to work, save, and invest.

LP · **Reply #1 on:** Jun 29, 2018

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