How much capital each laborer works with is referred to as the
a. labor productivity
b. capital productivity
c. the marginal factor of capital to labor ratio
d. the capital-labor ratio
e. capital deepening
D
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Net exports will be negative if:
A. imports exceed exports. B. exports exceed imports. C. it is a closed economy. D. it is an open economy.
Which of the following is a wealth effect that would most likely cause an increase in the quantity of real GDP demanded in a nation, ceteris paribus?
a. The interest rate in Canada rises due to rising prices. b. Falling prices in France increase the real value of money. c. Australian consumers decrease their spending. d. Germany experiences a prolonged bout of high price levels.
In a free market, what happens if there is a surplus? The price ________.
falls rises stays the same rises in the short run and falls back to its original level in the long run
What is the highest price that a firm would be willing to pay for one marketable pollution permit?
A. an amount equal to the purchasing firm's marginal abatement cost B. an amount equal to the social benefit of pollution reduction C. an amount determined by supply and demand in the market D. an amount equal to the selling firm's marginal abatement cost