Suppose that all goods are made with two factors-labour and capital. The table below shows the total endowments of each factor in the United States and Canada.Based on the information in the table, which of the following statements is FALSE? A) Canada is relatively capital abundant. B) The US is relatively labour abundant. C) The US has more capital and labour than Canada. D) The US is relatively capital abundant.

Suppose that all goods are made with two factors-labour and capital. The table below shows the total endowments of each factor in the United States and Canada.Based on the information in the table, which of the following statements is FALSE? A) Canada is relatively capital abundant. B) The US is relatively labour abundant. C) The US has more capital and labour than Canada. D) The US is relatively capital abundant.

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter17: Economic Growth: Resources, Technology, Ideas And Institutions

Section17.2: A Production Function And Economic Growth

Problem 2ST

See similar textbooks

Similar questions

In Economics, explain Human capital; General and specific, Examples and Definitions
Write the production function in its simplest form (human capital being included in TFP) and explain the nature of each factor of production.
Write the production function (human capital (H) being included in TFP) and explain the content of the each factor of production.
Marcie wants to work as a freelance editor. She purchases a desk, computer, widescreen monitor, and ergonomic keyboard. What kind of resources are these? Capital Entrepreneurship Labor Land
Adam Smith did not considered ________ as one of the component of production
Characterize the different factors of production by identifying their roles in the production process.
Improvements in their productivity of labor will tend to
University Advancd Microeonomics, Theory of Production, Non-Essay question
Stocks and bonds are examples of: a) natural resources. b) financial capital. c) physical capital. d) financial labor. e) internal capital. ?
improvement in the productivity of labor will tend to
Enlist and explain briefly the drivers of development.
Thomas Malthus presented a dismal forecast for man-kind, largely due to the effects of population growth. Show that immigration, like population growth, tends to create unemployment in the short run and reduce the standard of living of workers in the long run, even though it does enhance the economy’s ability to produce. (Use diagram and analysis)