Refer to the figure. Assuming no technological change, if the United States increases capital per hour worked by $40,000 every year between 2020 and 2024, we would expect to see OA. the per-worker production function will get flatter over time. OB. real GDP per hour worked will increase by the same increment each year between 2020 and 2024. OC. the per-worker production function will shift up every year there is increase in capital per hour worked. OD. real GDP per hour worked will be lower in 2024 than it was in 2020. Real GDP per hour worked ($) 2,000 1,850 35,000 40,000 Capital per hour worked ($)

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter20: Economic Growth In The Global Economy
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Refer to the figure. Assuming no
technological change, if the United States
increases capital per hour worked by $40,000
every year between 2020 and 2024, we would
expect to see
OA. the per-worker production function will
get flatter over time.
OB. real GDP per hour worked will increase
by the same increment each year
between 2020 and 2024.
OC. the per-worker production function will
shift up every year there is increase in
capital per hour worked.
OD. real GDP per hour worked will be lower
in 2024 than it was in 2020.
Real GDP per hour worked ($)
2,000
1,850
35,000
40,000
Capital per hour worked ($)
Transcribed Image Text:Refer to the figure. Assuming no technological change, if the United States increases capital per hour worked by $40,000 every year between 2020 and 2024, we would expect to see OA. the per-worker production function will get flatter over time. OB. real GDP per hour worked will increase by the same increment each year between 2020 and 2024. OC. the per-worker production function will shift up every year there is increase in capital per hour worked. OD. real GDP per hour worked will be lower in 2024 than it was in 2020. Real GDP per hour worked ($) 2,000 1,850 35,000 40,000 Capital per hour worked ($)
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