Solved

An Economy's Production Function Has the Constant-Returns-To-Scale Property

Question 112

Multiple Choice

An economy's production function has the constant-returns-to-scale property.If the economy's labor force doubled and all other inputs stayed the same,then real GDP would


A) stay the same.
B) increase by exactly 50 percent.
C) increase by exactly 100 percent.
D) increase,but not necessarily by either 50 percent or 100 percent.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions