Suppose the Economy's Production Function Is Y = AK⁰

question 51

Multiple Choice

Suppose the economy's production function is Y = AK^0.3N0.7.If K = 2000,N = 100,and A = 1,then Y = 246.If K and N both rise by 20%,and A is unchanged,by how much does Y increase?

• A)5%
• B)10%
• C)15%
• D)20%

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Definitions:

Cross-cultural Competencies

Skills and knowledge that enable individuals to effectively interact, work, and communicate in environments with cultural diversity.

Self-maintenance Competencies

Skills and abilities that allow individuals or systems to maintain their effectiveness and efficiency over time without external intervention.

Parent-country Nationals

Employees from the same country where the multinational company's headquarters are located, working abroad in one of its subsidiaries.

Subsidiary Country

The nation in which a subsidiary, a company controlled by another (usually a parent company), is located.