Multiple Choice
Scenario: Country X has 1,000 workers. The country's aggregate production function is YX = 1.5 KX²/³ HX¹/³, where KX = 1,000,000 and HX = 2,500,000.
-Refer to the scenario above.Assume the country's human capital per worker increases and total efficiency units of labor now equal 2,000,000.How could this be the case?
A) Total output must have increased.
B) The labor force must have gotten smaller.
C) The labor force must have gotten bigger.
D) Average length of education must have decreased.
Correct Answer:
Verified
Correct Answer:
Verified
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