An economy operating at full employment has...

a.A labour force participation rate of 100 percent.

b.Zero unemployment.

c.Natural unemployment.

d.An employment rate of 100 percent.

In the equation y = Ak0.5, k represents...

a.Capital per unit of output.

b.Capital per worker.

c.GDP per person.

d.Labour per capital.

The relationship between inputs and output is called a_____ function.

a.Aggregate supply.

b.Production.

c.Aggregate demand.

d.Reaction.