If the number of workers in an economy doubled, all other inputs stayed the same, and there were constant returns to scale, productivity would
a. fall to less than one-half of its former value.
b. fall, but it would still be greater than one-half of its former value.
c. stay the same.
d. rise but less than double.
b
Economics
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Excessive regulation may lead to
a. corruption b. attempts to evade regulations c. high costs of complying with regulation d. lobbying to remove regulation e. all of the above
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The aggregate supply curve represents levels of output that producers are willing to sell at
A) each level of the real interest rate. B) each level of real GDP. C) each price level. D) each inflation rate.
Economics