A country's capital stock decreased after a war while its labor supply remained constant. Which of the following will happen in this case if output is a function of capital and efficiency units of labor?
A) Its total output will remain constant. B) Its total output will decrease.
C) Its per capita output will remain constant. D) Its per capita output will increase.
B
Economics
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In a marketplace, the rental price of apartments is determined by:
A) negotiations between landlords and regulators. B) negotiations between renters and regulators. C) negotiations between renters and landlords. D) negotiations between politicians and regulators.
Economics
The primary purpose of patents and copyrights is to
A) provide owners with large profit forever. B) protect firms from being taken advantage of by competing firms. C) protect domestic firms from foreign competition. D) encourage the expenditure of funds on research and development to create new products.
Economics