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tennisalex tennisalex
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A year ago
Scenario: Farm Country and Industry Country are two neighboring countries. Both countries produce only one good: good X. Production in both countries is a function of total efficiency units of labor and physical capital stock.


Refer to the scenario above. A labor strike will disproportionally affect output in ________.

▸ the country that uses worse technology

▸ the country that produces more output initially

▸ Farm Country, if it uses less capital in the production of the same amount of good X as Industry Country

▸ Industry Country, if both countries face the same aggregate production function
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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webmom2008webmom2008
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