If an Economy Experiences an Increase in Its Labor Force,everything

question 14

Multiple Choice

If an economy experiences an increase in its labor force,everything else constant,then at constant world prices,it will

• A)produce more of the labor intensive good and less of the capital intensive good.
• B)produce more of both goods.
• C)produce the same amount of both goods.
• D)produce less of the labor intensive good and more of the capital intensive good.

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Definitions:

Time-Based Competition

Competition based on time, rapidly developing products and moving them to market.

Design for Manufacturability

An engineering practice that focuses on designing products in such a way that they are easy, cost-effective, and efficient to manufacture.

Rapidly Developing

Experiencing fast growth or advancement, often used to describe economies, technologies, or industries.

Market

An area or arena in which commercial dealings are conducted, including the buying and selling of goods and services.