Countries with a relatively high stock of skilled labor will have a comparative advantage in producing goods that require relatively larger quantities of skilled labor
a. True
b. False
Indicate whether the statement is true or false
True
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Which nation achieved the ideal communist society as described by Marx?
A. Castro's Cuba B. Mao's China C. Stalin's Soviet Union D. No nation has achieved Marx's vision of communist society.
Refer to the information provided in Table 31.1 below to answer the question(s) that follow.Table 31.1PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 60 50 2203 70 50 2354 80 50 245Refer to Table 31.1. From Period 2 to Period 3, the marginal return to labor is equal to
A. 0.67. B. 1.5. C. 3.36. D. 3.76.
Financial investment refers to:
A. The same idea as economic investment B. Earning profits from producing goods and services C. Purchasing or building an asset for monetary gain D. Making new additions to the capital stock
An economic expansion rather than a recession occurs
A) when the federal budget is balanced. B) when the unemployment rate falls below 5 percent. C) when growth in real GDP is positive. D) when the unemployment rate is not changing.