Real GDP grows when
I. the quantities of the factors of production grow
II. persistent advances in technology make factors of production increasingly productive
III. human capital grows
A) Only II.
B) Both I and III.
C) Only I.
D) I, II, and III.
Correct Answer:
Verified
Q135: If the population increases, then potential GDP
Q136: If real GDP is $13,000 billion and
Q137: Labor productivity is
A) the rate of change
Q138: The real wage rate will fall if
Q139: If real GDP is $800 million and
Q141: If new capital increases labor productivity, the
Q142: If real GDP is $13,500 billion and
Q143: An advance in technology that increases productivity
Q144: An advance in technology will
A) shift the
Q145: When labor productivity increases, the demand for
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents