If the Level of Technology Rises,GDP Per Hour of Labor

question 207

Multiple Choice

If the level of technology rises,GDP per hour of labor

• A)increases for any level of capital per hour of labor.
• B)increases because the level of capital per hour of labor increases.
• C)decreases for a given level of capital per hour of labor.
• D)decreases because the level of capital per hour of labor decreases.
• E)does not change because GDP increases only when capital or labor increases.

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Definitions:

Accounting Equation

The fundamental formula in accounting that represents the relationship between a company's assets, liabilities, and shareholders' equity: Assets = Liabilities + Equity.

Investment Of Land

The act of spending money to purchase land as an investment, with the expectation that it will appreciate in value.

Accounting Equation

The foundational principle of accounting stating that Assets = Liabilities + Owner’s Equity, representing the structure of a balance sheet.

Cash Withdrawal

The act of taking money out of a bank account or cash reserve.