Let Kj and Lj denote the capital and labor stocks of country j (j = A,B), then country A is said to be capital abundant relative to country B if
A) KA > KB.
B) KA/LA > KB/LB.
C) LA < LB.
D) All of the above.
B
Economics
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Refer to Figure 4.2. The dominant strategy for Sloane is to
A) go to the movie theater. B) go to the bowling alley. C) go to either the movie theater or to the bowling alley. D) Sloane does not have a dominant strategy.
Economics
Economic models like the AD-AS model tell us:
A. how to determine which economic variables are changing. B. what to expect if we know what is happening. C. exactly what is happening. D. nothing useful about the real world.
Economics