If the Stock of Physical Capital (That Is Machinery,equipment,etc

question 300

Multiple Choice

If the stock of physical capital (that is machinery,equipment,etc. ) and human capital remain the same and the population increases,then

• A)labor productivity will increase.
• B)labor productivity will decrease.
• C)the standard of living will increase.
• D)the new labor will be more productive.
• E)real GDP decreases.

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Definitions:

Report on Manufactures

A seminal document written by Alexander Hamilton in 1791, advocating for the encouragement and protection of manufacturing industries within the United States as a key to economic development.

Protective Tariff

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Agrarian

Pertaining to agriculture or the agricultural way of life.

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Communities or nations characterized by a political system in which power is vested in the people, who rule either directly or through freely elected representatives.