Changes in Factor Supplies Have Little Influence on Short- Run

question 22

Multiple Choice

Changes in factor supplies have little influence on short- run GDP growth but are important to long- run growth in output because

• A)additions to the labour force and capital stock happen only gradually over time.
• B)land cannot be changed in the short run.
• C)it is almost impossible to change the capital stock in the short run.
• D)wages increase rapidly in the short run, thus dampening the growth of employment.
• E)only aggregate demand is observed in the short run.

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