The tables above show the labor market and the production function schedule for the country of Pickett. An increase in population changes the labor supply by 20 billion hours at each real wage rate. Potential GDP ________
A) does not change
B) decreases to $3 trillion
C) increases to $50 trillion
D) increases to $18 trillion
D
Economics
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What are the four main sources of comparative advantage? Briefly explain each source and provide examples
What will be an ideal response?
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During recessions, the unemployment rate ________ and output ________
A) rises; falls B) rises; rises C) falls; rises D) falls; falls
Economics