One reason that labor productivity has increased is because of embodied technical change.
Answer the following statement true (T) or false (F)
True
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The Human Development Index was proposed because
A) people confuse nominal GDP and real GDP. B) nominal GDP and real GDP are subjective measures. C) of the limitations of real GDP as a measure comparing the standard of living in different nations. D) the GDP deflator changes if the base year is changed. E) different nations have different populations.
Capital flight shifts the NCO curve to the left
a. True b. False Indicate whether the statement is true or false
If price elasticity of supply is less than 1
A. demand is inelastic. B. supply is elastic. C. supply is inelastic. D. demand is elastic.
Surplus agricultural labor in a developing nation usually means that there is:
A. A caste system B. Widespread under-employment C. Immobility of labor resources D. Increased investment in agriculture