Capital Labor United States 75 Machines 225 Workers Brazil _(B)____ A) Brazil or United States B) United States or Brazil 45 Machines 90 Workers According to the table to the right, the relatively more labor-abundant country is _________(A)____ and the relatively capital-abundant country is

Capital Labor United States 75 Machines 225 Workers Brazil _(B) A) Brazil or United States B) United States or Brazil 45 Machines 90 Workers According to the table to the right, the relatively more labor-abundant country is _(A) and the relatively capital-abundant country is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Economic Growth

It means the rise in the manufacturing levels of a country’s products/services over a while. It is calculated in terms of the real income of the people of the country. When the production of products/services begins, the manufacturers will hire employees, which in turn raises the income of the people and it will also raise the buying power, this eventually leads to the circulation of money that directly helps in the increase in the Gross Domestic Product (GDP). Thus, GDP is calculated by economists to calculate the growth in the country.

Question

Capital
Labor
United States
75 Machines
225 Workers
Brazil
_(B)_____
A) Brazil or United States
B) United States or Brazil
45 Machines
90 Workers
According to the table to the right, the relatively more
and
labor-abundant country is _______(A)_
the relatively capital-abundant country
is

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