If the quantity of capital per worker in the economy increases
A) the amount of money held by workers increases.
B) labor productivity increases.
C) the stock of human capital necessarily increases.
D) the stock of financial assets held by the public increases.
B
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The cost of risk is the amount by which expected wealth must increase to give the same ________ as a no-risk situation
A) marginal wealth B) marginal utility C) expected utility D) expected wealth
If economies of scale are relatively important in an industry, the typical firm's
A) long-run average cost curve will reach a minimum at a level of output that leaves room for a large number of firms to enter the industry. B) long-run average cost curve will begin rising before it reaches minimum efficient scale. C) long-run average cost curve will reach a minimum at a level of output that is a relatively large fraction of total industry sales. D) marginal cost curve will decline continuously until it reaches minimum efficient scale.
Transactions costs are:
A. the time and energy involved with creating an exchange. B. often cited as a reason why purchasing power parity doesn't hold. C. usually higher when transactions take place internationally. D. All of these statements are true.
Identify and define the term used to describe how consumer demand affects the demand curve for labor, and provide an example.
What will be an ideal response?