If Capital Per Hour of Labor Increases, Real GDP Per

question 284

Multiple Choice

If capital per hour of labor increases, real GDP per hour of labor

• A) decreases for a given level of technology.
• B) increases because the level of technology increases.
• C) increases for a given level of technology.
• D) decreases because the level of technology decreases.

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Definitions:

Null Hypothesis

A statement used in statistics that there is no significant effect or difference for a specific population parameter being tested.

Null Hypothesis

A statement or assumption that there is no significant difference or effect, acting as the default position that is tested against the alternative hypothesis.

Type I Error

The error that occurs when a true null hypothesis is incorrectly rejected, commonly referred to as a "false positive."

Alpha (α)

A threshold value used in statistics that represents the probability of incorrectly rejecting a true null hypothesis (Type I error).