Refer to Figure 11-4. The movement from A to B to C illustrates
A) diminishing returns to labor. B) an improvement in technology.
C) a decline in capital per worker. D) diminishing returns to capital.
D
Economics
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Which of the following is likely to cause a fall in the wage rate and an increase in the number of workers hired in a local cotton mill?
A) A reduction in wage paid in a nearby jute mill B) The introduction of labor-saving technology in the mill C) The introduction of labor-complementary technology in the mill D) A decrease in the population of the region in which the cotton mill is located
Economics
What are the effects of a financial crisis on short-run aggregate supply? How might long-run aggregate supply be affected?
What will be an ideal response?
Economics