Scenario: Farm Country and Industry Country Are Two Neighboring Countries

question 45

Multiple Choice

Scenario: Farm Country and Industry Country are two neighboring countries. Both countries produce only one good: good X. Production in both countries is a function of total efficiency units of labor and physical capital stock.
-Refer to the scenario above.The aggregate production functions will shift upward when ________ produce(s) a higher output.

• A) the same amount of capital and a higher amount of labor
• B) a higher amount of capital and labor
• C) the same amount of labor and a higher amount of capital
• D) the same amount of capital and labor

---

Definitions:

Example

A typical instance or illustration of something, used to explain or justify.

Marketing Research

A set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.

Problem Needs

Identifiable requirements or gaps that a target audience or market has, which can drive the creation of new products or services.

Unstructured Questions

Open-ended questions that allow respondents to answer in their own words.