If the level of technology rises, GDP per hour of labor
A) decreases for a given level of capital per hour of labor.
B) increases for any level of capital per hour of labor.
C) decreases because the level of capital per hour of labor decreases.
D) increases because the level of capital per hour of labor increases.
E) does not change because GDP increases only when capital or labor increases.
Question 2
In the figure above, a price of 35 per dozen roses results in
A) a surplus.
B) upward pressure on the price of roses.
C) equilibrium.
D) a shortage.
E) an eventual rightward shift of the demand curve and/or leftward shift of the supply curve.
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