Which of the following is correct?
a. An increase in the quantity of labor always leads to economic growth
b. Increased education adds to the stock of human capital, not unlike building factories adds to the stock of physical capital.
c. A decrease in the productivity of labor leads to economic growth.
d. Japan and Hong Kong are rich in natural resources.
b
Economics
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Excess demand in an unregulated market will cause the price of a product to fall
Indicate whether the statement is true or false
Economics
Use the above table. If the marginal revenue product is $10, how many workers will the profit maximizing monopsonist hire?
A) 1 B) 2 C) 3 D) 4
Economics