With fixed quantities of capital, land, and entrepreneurship and fixed technology, the amount of real GDP produced increases when _{-------------}increases.
I. the quantity of labor employed ii. the inflation rate
Iii. the price level

Question

Quizplus · Accepted Answer

The amount of real GDP produced increases when the quantity of labor employed increases, as more labor can contribute to higher production output. Inflation rate and price level do not directly increase real GDP.

With Fixed Quantities of Capital, Land, and Entrepreneurship and Fixed