What is the effect of an increase in the population? An increase in the population _______. A. increases the supply of labor and potential GDP B. increases the real wage rate, increases firms' costs, and decreases potential GDP C. increases the supply of labor, increases labor productivity, and increases the demand for labor D. increases the real wage rate and potential GDP

What is the effect of an increase in the population? An increase in the population _______. A. increases the supply of labor and potential GDP B. increases the real wage rate, increases firms' costs, and decreases potential GDP C. increases the supply of labor, increases labor productivity, and increases the demand for labor D. increases the real wage rate and potential GDP

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 2P

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1. How does an increase in labor-productivity increase income? a. An increase in productivity, increases the marginal product of labor which increases the demand for labor. As demand for labor increases, the wage rate increases. b. An increase in productivity, decreases the marginal product of labor which increases the demand for labor. As demand for labor increases, the wage rate increases. c. An increase in productivity, increases the marginal product of labor which decreases the demand for labor. As demand for labor decreases, the wage rate increases. d. An increase in productivity, increases the marginal product of labor which decreases the demand for labor. As demand for labor decreases, the wage rate decreases.
71.Improvements in nutrition and health care typically increase life expectancies and decrease mortality rates , but don't increase the rate of population growth . T F
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An ________ is someone who starts a new business or introduces new products into the economy
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