(Table: Revenues and Costs for Two Industries) Suppose That the Table

question 72

Multiple Choice

(Table: Revenues and Costs for Two Industries) Suppose that the table gives payments to labor, land, and capital in the manufacturing and agriculture sectors. Now, suppose that the price of manufacturing goods increases by 10% (P_M) , and wages increase by 5%; then the rental rate on land will:

• A) increase by 7.5%.
• B) decrease by 5%.
• C) decrease by 7.5%.
• D) not change.

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Definitions:

Esophageal Varices

Swollen, varicose veins located in the lining of the lower esophagus, often a complication of liver disease and can lead to life-threatening bleeding.

Failure To Thrive

A condition often seen in children, characterized by slower physical development and growth than normal for their age.

Broken Nose

A fracture of the bones of the nose, typically resulting from trauma, leading to pain, swelling, and sometimes difficulty breathing.

Residual Volume

The amount of air remaining in the lungs after a forceful exhale, preventing lung collapse.