An Economy's Production Function Has the Constant­returns­to­scale Property

question 79

Multiple Choice

An economy's production function has the constant­returns­to­scale property. If the economy's labor force doubled
And all other inputs stayed the same, then real GDP would

• A) stay the same.
• B) increase by exactly 50 percent.
• C) increase by exactly 100 percent.
• D) increase, but not necessarily by either 50 percent or 100 percent.

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Definitions:

Biological Response

Biological response refers to any reaction or change in an organism or any of its parts resulting from exposure to a specific stimulus or environment.

Role Conflict

The stress or dilemma that occurs when an individual is confronted with competing demands or expectations from different roles they play in their life.

Ambiguity

The quality of being open to more than one interpretation, unclear, or inexactness in language, making understanding challenging.

Managers

Individuals in an organization responsible for directing and overseeing the work of a group of people.