The aggregate production function shows that an economy increases its real GDP in the short run by
A) developing new technologies.
B) increasing its physical capital stock.
C) using more labor.
D) exploring for new deposits of natural resources.
C
Economics
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Under the U.S. system of regulation, most regulars are selected from
A) politicians and their friends. B) the industry that is to be regulated. C) consumer advocacy groups. D) university professors who understand the nature of the industry and who understand the true interests of consumers.
Economics
A firm's opportunity cost of using resources provided by the firm's owners is called:
a. sunk costs. b. fixed costs. c. explicit costs. d. implicit costs. e. entrepreneurial costs.
Economics