The expansion path for a constant-returns-to-scale production function
a. is a straight line through the origin with a slope greater than 1 if w > v.
b. is a straight line through the origin with a slope greater than 1 if w < v.
c. is a straight line through the origin, though its slope cannot be determined by w and v alone.
d. has a positive slope but is not necessarily a straight line.
c
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According to the Keynesian macroeconomic model, consumption is a function of which three variables?
Select one: a. a) Autonomous consumption, intended investment, and the marginal propensity to consume b. b) Autonomous consumption, the marginal propensity to consume, and income c. c) Autonomous consumption, actual investment, and the marginal propensity to consume d. d) The marginal propensity to consume, income, and intended investment
In the Keynesian money market, velocity is
a. negatively related to the interest rate. b. independent of the interest rate. c. positively related to the interest rate. d. is positively related to the money supply. e. is not related to the interest rate but income.