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Figure 25-1. On the horizontal axis, K/L represents capital (K) per worker (L). On the vertical axis, Y/L represents output (1) per worker (L). Y/L K/L Refer to Figure 25-1. Choose a point anywhere on the curve and call it point A. If the economy is at point A in 2011, then it will definitely remain at point A in 2012 if, between 2011 and 2012, a. the quantity of physical capital doubles; the number of workers doubles; and human capital, natural resources, and technology remain constant. b. the quantity of physical capital doubles; the number of workers doubles; and human capital, natural resources, and technology all double as well. c. the quantity of physical capital doubles; human capital, natural resources, and technology all double as well; and the number of workers remains constant. d. the quantity of physical capital remains constant; the number of workers doubles; and human capital, natural resources, and technology all double as well.

Figure 25-1. On the horizontal axis, K/L represents capital (K) per worker (L). On the vertical axis, Y/L represents output (1) per worker (L). Y/L K/L Refer to Figure 25-1. Choose a point anywhere on the curve and call it point A. If the economy is at point A in 2011, then it will definitely remain at point A in 2012 if, between 2011 and 2012, a. the quantity of physical capital doubles; the number of workers doubles; and human capital, natural resources, and technology remain constant. b. the quantity of physical capital doubles; the number of workers doubles; and human capital, natural resources, and technology all double as well. c. the quantity of physical capital doubles; human capital, natural resources, and technology all double as well; and the number of workers remains constant. d. the quantity of physical capital remains constant; the number of workers doubles; and human capital, natural resources, and technology all double as well.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Figure 25-1. On the horizontal axis, K/L represents capital (K) per worker (L). On the vertical axis, Y/L represents output (1) per worker (L). Y/L K/L Refer to Figure 25-1. Choose a point anywhere on the curve and call it point A. If the economy is at point A in 2011, then it will definitely remain at point A in 2012 if, between 2011 and 2012, a. the quantity of physical capital doubles; the number of workers doubles; and human capital, natural resources, and technology remain constant. b. the quantity of physical capital doubles; the number of workers doubles; and human capital, natural resources, and technology all double as well. c. the quantity of physical capital doubles; human capital, natural resources, and technology all double as well; and the number of workers remains constant. d. the quantity of physical capital remains constant; the number of workers doubles; and human capital, natural resources, and technology all double as well.
Transcribed Image Text:Figure 25-1. On the horizontal axis, K/L represents capital (K) per worker (L). On the vertical axis, Y/L represents output (1) per worker (L). Y/L K/L Refer to Figure 25-1. Choose a point anywhere on the curve and call it point A. If the economy is at point A in 2011, then it will definitely remain at point A in 2012 if, between 2011 and 2012, a. the quantity of physical capital doubles; the number of workers doubles; and human capital, natural resources, and technology remain constant. b. the quantity of physical capital doubles; the number of workers doubles; and human capital, natural resources, and technology all double as well. c. the quantity of physical capital doubles; human capital, natural resources, and technology all double as well; and the number of workers remains constant. d. the quantity of physical capital remains constant; the number of workers doubles; and human capital, natural resources, and technology all double as well.
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