In general, as the amount of labor input decreases, the amount of output
a. increases.
b. decreases.
c. remains constant.
d. decreases only if the capital stock also decreases.
b
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Which of the following is not a component of the M1 money supply?
a. Demand deposits. b. Large-denomination (more than $100) bills. c. Interest-earning checking deposits. d. Outstanding balances on credit cards.
Macroeconomics focuses on the economy as a whole
a. True b. False
Which of the following financial assets is considered to be essentially risk-free?
A. Gold. B. Stock in Fortune 500 companies. C. Real estate. D. Short-term U.S. government bonds.
Adam Smith’s book, The Wealth of Nations,
A. Was a critique of Mercantilism B. Was a product of the Enlightenment. C. Was philosophically consistent with the Declaration of Independence. D. All of the above are correct