Figure 7-1

question 249

Multiple Choice

Figure 7-1. On the horizontal axis, K/L represents capital (K) per worker (L) . On the vertical axis, Y/L represents output (Y) per worker (L) .

-Refer to Figure 7-1. Choose a point anywhere on the curve and call it point A. If the economy is at point A in 2011, then it will definitely remain at point A in 2012 if, between 2011 and 2012,

• A) the quantity of physical capital remains constant; the number of workers doubles; and human capital, natural resources, and technology all double as well.
• B) the quantity of physical capital doubles; human capital, natural resources, and technology all double as well; and the number of workers remains constant.
• C) the quantity of physical capital doubles; the number of workers doubles; and human capital, natural resources, and technology all double as well.
• D) the quantity of physical capital doubles; the number of workers doubles; and human capital, natural resources, and technology remain constant.

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Definitions:

Aboriginal Peoples

Indigenous populations that are original inhabitants of specific regions, preserving unique cultural practices, languages, and beliefs.

Medicine Circles

Traditional healing practices among various indigenous cultures that involve community participation in rituals, often led by a medicine man or woman, to address physical or spiritual ailments.

Sweat Lodges

A ceremonial sauna, traditionally used by Indigenous peoples of the Americas, intended for spiritual cleansing and physical healing.

Employment Relationship

The legal link between employers and employees, defining their rights and obligations in the workplace.