Refer to Figure 11-3. Which of the following would cause an economy to move from a point like A in the figure above to a point like B?
A) a technological regression B) a decrease in capital per hour worked
C) an increase in capital per hour worked D) an improvement in technology
C
Economics
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The table above gives information about the labor market in Lantis, a community in which the labor market is perfectly competitive. The equilibrium wage rate is ________ an hour and the quantity of labor employed is ________ hours per day
A) $5; 600 B) $25; 200 C) $15; 400 D) None of the above answers is correct.
Economics
"Dividing the economic pie more equally may reduce the size of the economic pie." This argument is characterized as:
a. a conflict between full employment and economic growth. b. a form of discrimination. c. a conflict between equity and efficiency. d. untrue.
Economics