When a Production Function Is Graphed with Real GDP on the Vertical

question 53

Multiple Choice

When a production function is graphed with Real GDP on the vertical axis and labor on the horizontal axis,a rise in labor ________________________which shifts the LRAS curve ____________ resulting in ______________________.

• A) shifts the production function up; rightward; economic growth
• B) shifts the production function down; leftward; a shrinking economy
• C) moves us up along a given production function; rightward; economic growth
• D) moves us down along a given production function; leftward; a shrinking economy

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Definitions:

Increasing

Becoming larger or greater in size, number, value, or amount.

pKa

A quantitative measure that reflects the acid strength of a substance; the lower the pKa value, the stronger the acid.

Methanol

A light, volatile, colorless liquid with a distinctive alcoholic odor, used as an antifreeze, solvent, fuel, and as a denaturant for ethanol.

Ka

An abbreviation for acid dissociation constant, a quantitative measure of the strength of an acid in solution, representing the equilibrium constant of its dissociation.