In the Fourteenth Century It Is Estimated That Deaths Resulting

question 98

Multiple Choice

In the fourteenth century it is estimated that deaths resulting from the bubonic plague reduced the population by about a third.Assuming diminishing returns,the decrease in population should have

• A)increased productivity and real GDP per person.
• B)increased productivity but decreased real GDP per person.
• C)increased real GDP per person,but decreased productivity.
• D)decreased productivity and real GDP per person.

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Definitions:

Production

The process of creating goods and services, involving tasks such as design, raw materials sourcing, and manufacturing.

Standardization

The process of establishing common standards within an industry to ensure that products and services are consistent and compatible.

Contract Manufacturer

A company hired to produce goods on behalf of another company, under the hiring company's brand name.