Use the Following to Answer Questions

question 132

Multiple Choice

Use the following to answer questions :
Scenario: The Aggregate Production Function
Holding the human capital per worker and technology unchanged, the estimated aggregate production function in Jamaica is Y / L = 50 × K / L, where Y = real output, L = number of workers, and K = quantity of physical capital.
-(Scenario: The Aggregate Production Function) Look at the scenario The Aggregate Production Function. If K / L = $81, then real GDP per worker is:

• A)$4,050.
• B)$4,000.
• C)$4,096.
• D)$40,500.

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Definitions:

Price Of Apples

The amount of money required to purchase apples in a market, often influenced by factors like supply and demand, production costs, and seasonal variations.

Imported Apples

Apples brought into a country from another to be sold or consumed, which may be subject to tariffs or quality inspections.

Free Trade

A policy to eliminate discrimination against imports and exports, allowing goods to move freely across borders without tariffs, quotas, or other restrictions.

Quantity Demanded

The specific amount of a good or service that consumers are willing to buy at a given price, holding other factors constant.