The term _____ refers to time periods when the buying power of money in terms of goods and services increases

Assuming constant returns to scale, the equation, Y = A(t)F(K,N) can be rewritten as

a. Y/N = A(t)ƒ(K/N). b. q = A(t)ƒ(k). c. Y/N = A(t)ƒ(K ? N). d. Both a and b e. Both b and c

Which of the following is NOT considered a determinant of income differences?

A) productivity B) age C) discrimination D) equity or fairness