Decreases in the stock of capital will lead to:
A. increases in wages and total GDP.
B. decreases in wages and increases in GDP.
C. increases in wages and decreases in GDP.
D. decreases in wages and GDP.
Answer: D
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The production function Y = AKbN1-b written in terms of growth rates is
A) y = a - bk - (1 - b)n. B) y = a + bk + (1 - b)n. C) y = a - bk + (1 - b)n. D) y = a + bk - (1 +b)n.
A rightward shift of a demand curve is called a(n):
a. increase in demand. b. decrease in demand. c. increase in quantity demanded. d. decrease in quantity demanded. e. increase in supply.
As the rate of interest on borrowed funds increases, the quantity of investment funds demanded diminishes
a. True b. False Indicate whether the statement is true or false
During the Great Depression of the 1930s, unemployment peaked at _____ percent.
A. 5 B. 10 C. 20 D. 25 E. 30 percent