If the base year is 2005, the nominal GDP for 2015 is $10,000 billion, and the GDP deflater for 2015 is 90, what is the real GDP for 2015 compared to 2005?

If marginal product is a constant what can we conclude about the shape of the average product function and why?

What will be an ideal response?

A production method that relies on large quantities of machines and equipment and smaller quantities of labor is referred to as a:

A) variable-input-intensive method of production. B) labor-intensive method of production. C) technology-intensive method of production D) capital-intensive method of production.