An increase in the supply of capital, which is a substitute to labor, will lead to a decrease in the demand for labor
Indicate whether the statement is true or false
TRUE
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Which of the following causes the aggregate production function to shift up?
A) An increase in capital stock B) A decrease in the productivity of workers C) An improvement in technology D) An increase in the total efficiency units of labor
The above figure that most accurately shows a production function is
A) Figure A. B) Figure B. C) Figure C. D) Figure D. E) Both Figure A and Figure B; Figure A for an economy with an excess of labor and Figure B for an economy with a shortage of labor.
The larger a country is relative to the rest of the world, the less likely it is to be able to produce a net benefit for its citizens by imposing an import tariff.
Answer the following statement true (T) or false (F)
An investment pays $100 at the end of each of the three next years. No additional payments will ever be made. If the annual interest rate is 5 percent, the present value of the investment is approximately
A) $250. B) $272. C) $288. D) $300.