Use the figure below to answer the following questions. 
Figure 9.3.3
-Consider an initial budget line labelled RT in Figure 9.3.3.If the budget line becomes RS,the substitution effect is illustrated by the move from point
Definitions:
Labor Productivity Growth
An increase in the efficiency of labor, typically measured as the amount of goods or services produced per hour of labor.
Labor-Capital Ratio
The ratio of labor inputs (workforce numbers or hours worked) to capital inputs (machinery, buildings, and technology) in production processes.
Capital Stock
The total amount of physical and financial assets owned by a business or country, including buildings, machinery, equipment, and shares.
Labor Productivity
The measure of economic performance that compares the amount of goods and services produced with the number of labor hours used to produce them.
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