If an economy experiences an increase in its labor force, everything else constant, then at constant world prices, it will
A) produce more of the labor intensive good and less of the capital intensive good.
B) produce more of both goods.
C) produce the same amount of both goods.
D) produce less of the labor intensive good and more of the capital intensive good.
A
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Gross Domestic Product equals
A) Y = C + I + G + NX. B) Y = C - I + G + NX. C) Y = C + I + G - NX. D) Y = C + I - G + NX. E) Y = C - I - G - NX.
Using the utility possibilities frontier above explain three ways that this society of two individuals can be made better off without making anyone worse off if it starts at point A
What will be an ideal response?
Which of the following approaches should the Fed use if it experiences large lags and mistakes in monetary policy?
A. Discretionary policy B. An eclectic approach C. Fixed rules D. Fiscal policy
Which of the following goods or services are among top U.S. imports?
a. aircraft b. education c. computers d. soybeans