Holding all factors of production constant except for labor, what happens in an economy when real GDP output increases? The unemployment rate falls and in employment rate increases. The level of technology increases as the economy expands. The level of capital increases as the economy expands. All of the answers are correct.

Holding all factors of production constant except for labor, what happens in an economy when real GDP output increases? The unemployment rate falls and in employment rate increases. The level of technology increases as the economy expands. The level of capital increases as the economy expands. All of the answers are correct.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter19: Economic Growth In Developing Nations

Section: Chapter Questions

Problem 8AA

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