The above figure shows the labor market in an undeveloped nation. A minimum wage has an effect on the market for low-skilled labor if it is set at

Compared to the closed economy Keynesian model, the open economy model in which imports are a function of income has an investment multiplier that is

a. smaller. b. larger. c. equal. d. equal to 1.

Which of the following statements is true?

a. Natural resources per worker influence productivity only when those natural resources are renewable. b. The prices of most natural resources are stable or falling relative to other prices. c. Technology requires greater use of natural resources. d. The terms human capital and technological knowledge are used interchangeably.