In a Small European Country,it Is Estimated That Changing the Level

question 8

Multiple Choice

In a small European country,it is estimated that changing the level of capital from $8 million to $10 million will increase real GDP from $2 million to $3 million.If the number of hours worked in the labor force does not change,what does this information tell you about the slope of the per-worker production function in this range?

• A)The slope is -2.
• B)The slope is 1/2.
• C)The slope is 2.
• D)The slope is 4.

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Definitions:

Complete Propositions

Statements or assertions that convey a complete idea, capable of being true or false, and usually containing both a subject and a predicate.

Inclusive Sense

Refers to an understanding or interpretation that aims to encompass or include all relevant aspects or elements.

Disjunction

A compound proposition containing two or more component propositions (the disjuncts) and asserting that at least one of them is true.

Disjuncts

Components of a logical disjunction, or an "or" statement, where either one or the other (or both) of the elements is true.