With Equal Technology Nations Will Have Equal K/L in Production

question 12

Multiple Choice

With equal technology nations will have equal K/L in production if:

• A)factor prices are the same
• B)tastes are the same
• C)production functions are the same
• D)all of the above

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Definitions:

Sales Taxes

Taxes levied on the sale of goods and services, normally calculated as a percentage of their price.

Marginal Social Benefit

The additional benefit to society as a whole from an increase in the consumption or production of one more unit of a good or service.

Pollution

The introduction of contaminants into the natural environment that cause adverse change, often impacting air, water, and soil quality.

Zero

A numerical value representing the absence of any quantity or value.