If Y = K⁰

question 120

Multiple Choice

If Y = K^0.3L^0.7, then the per-worker production function is:

• A) Y = F(K/L).
• B) Y/L = (K/L)^0.3.
• C) Y/L = (K/L)^0.5.
• D) Y/L = (K/L)^0.7.

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Definitions:

Ethics

The branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct, often addressing questions of morality.

Validity

The degree to which a test or instrument measures what it is intended to measure, accurately reflecting the concept it is designed to assess.

Tendency To Help

An inclination or natural propensity in humans to provide assistance or aid to others in need.

Altruism

Unselfish concern for the welfare of others; selflessness.