Capital deepening refers to:
a. an increase in the amount of capital per worker
b. an increase in the amount of workers per unit of capital.
c. a decrease in the amount of capital per unit of output.
d. an increase in the amount of output per unit of capital.
e. an increase in the productivity of capital.
a
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If the central bank did not follow the Taylor principle, an increase in inflation would lead to ________
A) a decrease in the nominal interest rate B) an increase in inflation C) a decrease in aggregate expenditure D) all of the above E) none of the above
The argument against greater equality in the distribution of income in the United States hinges predominantly on
A. Loss of incentives. B. The loss of horizontal equity. C. A higher marginal revenue product. D. Greater productivity.
Consider the two graphs below. Graph A represents a typical firm in a purely competitive industry. Graph B represents the supply and demand conditions in that industry. The dashed horizontal line represents the current market price for firms and for
the industry. In the long run, what will happen to price, profit, the supply curve, and the number of firms in the industry? What will be an ideal response?
Education is an example of a positive externality.
Answer the following statement true (T) or false (F)