The Table Below Shows Various Values of Labour (L),capital (K),and

question 66

Multiple Choice

The table below shows various values of labour (L) ,capital (K) ,and technology (T) for Economies A,B,and C.In each case,the aggregate production function takes the following form:
Y = T × TABLE 25-4
-Refer to Table 25-4.Consider the changes shown for L,K,and T for Economy B,where output (Y) is the economy's real GDP.As total labour and capital inputs rise,this economy will show

• A)rising GDP but falling per capita GDP.
• B)rising GDP and rising per capita GDP.
• C)rising GDP but constant GDP per capita.
• D)GDP rising faster than capital.
• E)GDP rising more slowly than capital.

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Definitions:

Natural Mimicry

The innate or instinctual ability to imitate or reproduce behaviors, sounds, or appearances observed in the environment.

Informational Social Influence

The influence to conform to what we believe others think is correct, often due to the desire or need for accuracy.

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort resulting from holding two or more contradictory beliefs, ideas, or values.

Personal Control

The belief or perception that one has the ability to influence the outcome of events in their own life.