Social Studies, 10.03.2022 01:00 jordan2875
Consider the interaction between labor and capital within the production process and answer the following questions.
1. How do economists refer to the amount of capital employed per worker?
a. capital productivity
b. the capital stock
c. the human capital percentage
d. the capital‑labor ratio
2. What would likely happen if the amount of capital employed per worker grew?
a. Wages would fall because capital would be more important in production.
b. Wages would fall because physical capital would replace human capital.
c. Wages would be unchanged because wages are unaffected by the quantity of capital.
d. Wages would rise because workers would become more productive.
Answers: 1
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Consider the interaction between labor and capital within the production process and answer the foll...
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