The aggregate production function describes the relationship between

Question

Quizplus · Accepted Answer

The aggregate production function is a mathematical equation that describes the relationship between real GDP and the quantity of labor employed. It shows how changes in the amount of labor used in production can affect the level of output. Other factors, such as physical capital and technology, can also affect the level of output but are held constant in the aggregate production function. Therefore, choice D is the best answer.

The Aggregate Production Function Describes the Relationship Between