The production function shows that as employment increases,real GDP
A) increases at an increasing rate.
B) increases at a decreasing rate.
C) increases at a constant rate.
D) decreases at a decreasing rate.
E) increases until it reaches potential GDP and then it starts to decrease.
Correct Answer:
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Q55: In 2011,real GDP in the United States
Q56: Q57: Q58: Diminishing returns along a production function means Q59: The idea that the production function exhibits Q61: The total labor hours that all the Q62: The lower the real wage rate,the Q63: A firm's demand for labor depends on 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
A)fewer workers
