Increases in labor, according to the theory of economic growth,
A) increase productivity but not the growth of real GDP.
B) increase neither productivity growth nor the growth of real GDP.
C) increase both productivity and the growth of real GDP.
D) increase the growth of real GDP but not productivity.
E) have an uncertain effect on both productivity and real GDP.
Correct Answer:
Verified
Q1: The late 1700s and early 1800s represent
Q3: Diminishing returns to labor means that
A)the greater
Q4: Which of the following is true?
A)Economic growth
Q5: The flattening out of the production function
Q6: When capital is included in the production
Q7: Productivity is defined as
A)output per person.
B)output per
Q8: The total amount of capital in the
Q9: The rationale for developing a model in
Q10: As more capital is added per worker,
Q11: Diminishing returns to labor exists
A)in any economy.
B)only
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