Potential output in an economy decreases as the supply of labor decreases or the capital stock increases

Indicate whether the statement is true or false


FALSE

Economics

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A copyright is a source of:

A) legal market power. B) natural market power. C) regulated market power. D) competitive market power.

Economics

Increases in capital per hour worked cannot sustain high rates of economic growth unless accompanied by technological change

Indicate whether the statement is true or false

Economics

Brazil and Russia both depend on capital equipment as their primary exports

Indicate whether the statement is true or false

Economics

When contemplating the purchase of a resource, the pure monopsonist should do which of the following to maximize profit?

A) Purchase enough to make the marginal expenditure equal to the marginal revenue product. B) Purchase enough to make the average expenditure equal to the marginal revenue product. C) Pay a wage equal to the value of MRP at the intersection of MRP and ME curves. D) Pay a wage equal to the value of MRP at the intersection of AE and MRP curves.

Economics