答案和详解如下：

LOS c: Discuss labor productivity and the productivity curve, and the effects of changes in capital stock and/or technology on the productivity curve

1.Which of the following is least likely to be observed when examining a labor productivity curve?

A)   The rate of change in technology as labor increases.

B)   The change in real GDP per labor hour as capital per hour changes, holding technology constant.

C)   The change in real GDP per labor hour as technology changes, holding capital per labor hour constant.

D)   The law of diminishing returns to labor.

The correct answer was A)

Labor productivity curves show: (1) the change if real GDP per labor hour as capital per labor hour changes, at a given state of technology, and (2) the change in real GDP per labor hour increases as the state of technology changes, at a given level of capital per labor hour. There is no way to directly observe the rate of change in technology from a labor productivity curve.

2.Labor productivity may be decomposed into which of the following two factors?

A)   Growth in both physical capital and human capital per labor hour.

B)   Growth in physical capital per labor hour and growth in real interest rates.

C)   Growth in physical capital per labor hour and technological change.

D)   Growth in real interest rates and technological change.

The correct answer was C)

Changes in the growth rate of labor productivity may be decomposed into two components: (1) the growth in physical capital per labor hour, and (2) technological change. The one third rule is useful in this decomposition.

3.Which of the following is most accurate regarding labor productivity curves?

A)   Growth in capital per labor hour and technological growth cause productivity curves to shift.

B)   Growth in capital per labor hour causes movements along a productivity curve; technological growth causes productivity curves to shift.

C)   Growth in capital per labor hour causes productivity curves to shift; technological growth causes movement along productivity curves.

D)   Growth in capital per labor hour and technological change cause movements along a productivity curves.

The correct answer was B)

The productivity curve results when labor productivity (real GDP per labor hour) is plotted against capital per labor hour at a given state of technology. A productivity curve shows how real GDP per labor hour changes as capital per labor hour changes. Growth in capital per labor hour causes movements along a productivity curve. Technological growth causes productivity curves to shift.