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ticktrader ticktrader
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A year ago
Scenario: Two economies, A and B, have identical aggregate production functions with diminishing returns. In both economies, capital and labor are equally important for production. Economy A has twice as many efficiency units of labor as economy B. Economy B has twice as much physical capital stock as economy A.


Refer to the scenario above. If population doubles and GDP remains unchanged, the economies' ________.

▸ GDP per capita will increase

▸ productivity will increase

▸ average standard of living will decrease

▸ income per capita will remain unchanged
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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bijin05bijin05
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A year ago
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ticktrader Author
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A year ago
Just got PERFECT on my quiz
bioc
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Yesterday
Good timing, thanks!
vernonb
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2 hours ago
Helped a lot
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