35 Answer A Diff 3 Page Ref 718 720312 314 Topic Growth Policies Learning

35 answer a diff 3 page ref 718 720312 314 topic

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35)Answer: ADiff: 3Page Ref: 718-720/312-314Topic: Growth PoliciesLearning Outcome: Macro 4: Explain the sources of productivity growthAACSB: Analytic Skills8
36) In the early 1900s, Henry Ford revolutionized the automotive manufacturing industry byinstituting the assembly line. What impact did the assembly line method for producingautomobiles have on the per-worker production function for Ford?36)Diff: 2Page Ref: 719-720/313-314Topic: Per-Worker Production FunctionLearning Outcome: Macro 4: Explain the sources of productivity growthAACSB: Analytic Skills37) If the per-worker production function shifts down,37)Diff: 2Page Ref: 719-720/313-314Topic: Per-Worker Production FunctionLearning Outcome: Macro 4: Explain the sources of productivity growthAACSB: Analytic Skills38) Because of diminishing returns, an economy can continue to increase real GDP per hour workedonly if38)Diff: 2Page Ref: 719-720/313-314Topic: Per-Worker Production FunctionLearning Outcome: Macro 4: Explain the sources of productivity growthAACSB: Reflective Thinking39) In a small European country, it is estimated that a $10,000 increase in capital per hour worked willincrease real GDP per hour worked by $300. Based on this information, what is the slope of theper-worker production function in this range?A) 0.03B) 3.3C) 33.3D) 333Answer: A39)Diff: 2Page Ref: 718-720/312-314Topic: Per-Worker Production FunctionLearning Outcome: Macro 4: Explain the sources of productivity growthAACSB: Analytic Skills9

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