Question
An increase in wages will lead to a long-run expansion path with: a) A lower capital to labour ratio b) A higher capital to labour
An increase in wages will lead to a long-run expansion path with:
a) A lower capital to labour ratio
b) A higher capital to labour ratio
c) An unchanged capital to labour ratio
d) A changed capital to labour ratio but the nature of the change is uncertain
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Macroeconomics Theories and Policies
Authors: Richard T. Froyen
10th edition
013283152X, 978-0132831529
