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Vethier 2016 Vethier 2016
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A year ago
Suppose production in an economy is represented by a Cobb-Douglas production function. If each worker in the economy becomes more productive, while the number of workers in the economy, the physical capital stock, and the state of technology remain unchanged, ________.

▸ the income per capita in the economy will decrease

▸ the inflation rate in the economy will decrease

▸ the GDP of the economy will increase

▸ the exchange value of its currency will increase in the foreign exchange market
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Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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rpascuarpascua
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A year ago
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Vethier 2016 Author
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