Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given the production function,the marginal product of labor will increase if the capital's share of output increases. True False In Country A the number of

Given the production function,the marginal product of labor will increase if the capital's share of output increases.

True

False

In Country A the number of adult population is 15 millions, the number of worker is 10 million and the labor force participation rate is only 80%. Now suppose adult population increases by 2%, labor forces increases by 1% and the number of employed people increases by 1%, what are the percentage changes in labor force participation rate and the unemployment rate?

a.1% and 2%

b.1% and 0

c.1% and 1%

d.3% and 0

e.1% and 1%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Math For Business And Finance An Algebraic Approach

Authors: Jeffrey Slater, Sharon Wittry

1st Edition

0077639626, 9780077639624

More Books

Students also viewed these Economics questions

Question

3. What values would you say are your core values?

Answered: 1 week ago