The supply of real GDP is a function of
A) the quantities of labor, capital and the state of technology.
B) the sum of wages, salaries, corporate profits, rents and interest.
C) the total expenditures of consumers, investors and government.
D) only the state of technology.

Question

Quizplus · Accepted Answer

The supply of real GDP depends on the factors of production, which include labor and capital, as well as the state of technology. These factors determine the productive capacity of an economy and influence the level of output that can be produced. While consumer, investment and government spending can affect the demand for goods and services, they are not directly related to the supply of real GDP.

The Supply of Real GDP Is a Function of