Figure 22-2 -Refer to Figure 22-2.Assuming No Technological Change,if the United States

question 124

Multiple Choice

Figure 22-2
-Refer to Figure 22-2.Assuming no technological change,if the United States increases capital per hour worked by $40,000 every year between 2012 and 2016,we would expect to see

• A)real GDP per hour worked will increase by the same increment each year between 2012 and 2016.
• B)real GDP per hour worked will be lower in 2016 than it was in 2012.
• C)the per-worker production function will get flatter over time.
• D)the per-worker production function will shift up every year there is increase in capital per hour worked.

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Definitions:

Multiple Correlation

This refers to the correlation between one variable and two or more other variables, assessed using the multiple correlation coefficient.

SSR

The sum of squared residuals, indicating the discrepancy between the observed and predicted values in a statistical model.

SST

Total Sum of Squares, a measure used in statistical analysis to quantify the total variance observed in a dataset.

Observations

Data points collected during an experiment or study.