The Black Death in fourteenth-century Europe resulted in
a. a lower marginal product of labor of surviving workers.
b. a higher marginal product of labor of surviving workers.
c. economic hardship for surviving peasants.
d. economic prosperity for surviving landowners.
b
Economics
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An advantage of using the cross-sectional regression method in estimating production is that
A) the problem of technological change over time is overcome. B) there is no need to adjust data, which are in monetary terms for geographical differences. C) we can assume that all plants operate at their most efficient input combinations. D) All of the above
Economics
When the economy is in a recession, ____ rises and poverty ____
a. unemployment; decreases b. employment; decreases c. unemployment; increases d. employment; increases
Economics