When a Production Function Is Graphed with Real GDP on the Vertical

question 43

Multiple Choice

When a production function is graphed with Real GDP on the vertical axis and labor on the horizontal axis,a rise in labor ________________________,and a rise in capital __________________.

• A) shifts the production function upward; also shifts the production function upward
• B) shifts the production function downward; shifts the production function upward
• C) moves us up along a given production function; shifts the production function upward
• D) shifts the production function upward; moves us up along a given production function

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Definitions:

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values around the mean.

Standard Score

A score that has been transformed to fit a common scale, allowing for comparison across different tests or assessments.

T Score

A standardized type of score that has a mean of 50 and a standard deviation of 10, used in various psychological and educational tests.

Standard Deviation

is a statistical measure that quantifies the amount of variation or dispersion of a set of values around the mean (average) value.