According to the production function, as the quantity of labor employed increases, real GDP increases
A) at an increasing rate.
B) at a decreasing rate.
C) at a constant rate.
D) and then eventually decreases.
E) until it reaches potential GDP, and then it no longer changes.
B
Economics
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An excludable good is a good that a producer can prevent people from consuming
Indicate whether the statement is true or false
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Price reflects the value households place on a good and marginal cost reflects the ________ of the resources needed to produce a good.
A. opportunity cost B. productivity C. availability D. quantity
Economics