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Roar Roar
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7 years ago
Assume that constant returns to scale exists and that N and K both decrease by 3%. Given this information, we know that
A) output (Y) will decrease 6%.
B) Y will decrease by 3%.
C) Y will decrease by less than 3%.
D) the capital-labor ratio (K/N) will decrease.
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Macroeconomics

Macroeconomics


Edition: 6th
Authors:
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legendvpnlegendvpn
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7 years ago
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Roar Author
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#2
6 years ago
Tough macro class, thanks for helping
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