Save Long run economic growth depends on (there are two correct answers, be sure

ID: 1154956 • Letter: S

Question

Long run economic growth depends on (there are two correct answers, be sure to select both for full credit):

The unemployment rate.

Growth in current GDP.

Population and labor force growth.

Gains in labor productivity.

The production function exhibits:

Diminishing returns to physical capital (if capital per worker is doubled, output per worker will increase but by less than 2x).

Constant returns to physical capital (if capital per worker is doubled, output per worker will also double).

Increasing returns to physical capital (if capital per worker is doubled, output per worker will increase by more than 2x).

Negative returns to physical capital (if there is an increase in the K/L ratio, output per worker will decrease).

The unemployment rate. Total GDP. The growth rate of productivity. GDP per capita.

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