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Question 18 2 pts Real GDP per hour worked, Y/L pwpf 3 ( 7 ) , D ( * ) , - - - -
Question 18 2 pts Real GDP per hour worked, Y/L pwpf 3 ( 7 ) , D ( * ) , - - - - pwpf 2 C - - pwpf, A B - - - - - (* ), (*), Capital per hour worked, K/L This graph contains three per-worker production functions: pwpf1. pwpf2, and pwpf;. The x-axis is labeled "Capital per hour worked, K/L" and the y-axis is labeled "Real GDP per hour worked, Y/L." All three per-worker production functions begin at the origin where the x- and y-axes meet. All three per-worker production functions have the same curve, where they start out steep and plateau as they move to the right. Pwpf, plateaus lower than pwpf2, and pwpf2 plateaus lower than pwpf3. There are 4 points, A-D, that are labeled on these per-worker production functions. Point A is on pwpf2. A vertical dashed line run from Point A to the x-axis, where the label (K/L)1 is marked. Points B, C, and D are on pwof1, pwpf2. and pwpf3, respectively, and all three line up vertically with one another. A vertical dashed line runs through Points B, C, and D and goes down to the x-axis, where it's labeled (K/L)2. Points A and B line up horizontally with one another. A horizontal dashed line runs through Points A and B over to the y-axis; this line is labeled (Y/L);. A second horizontal dashed line runs from Point Cover to the y-axis and is labeled (Y/L)2. A third horizontal dashed line runs from Point D over to the y-axis and is labeled (Y/L)3. Holding all else constant, a movement from C to B can be explained by: O A positive technological change O An increase in labor A negative technological change O An increase in capital Question 19 2 pts A positive technological change will O shift the per-worker production function up. O move the economy along a given per-worker production function to the right. O shift the per-worker production function down. O move the economy along a given per-worker production function to the left
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