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momoluv25 momoluv25
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Scenario: Red Country and Purple Country have identical aggregate production functions. The amount of physical capital stock available to each country is equal. Labor supply in Red Country is HR, while the labor supply in Purple Country is HP.




Refer to the scenario above. Suppose Red Country experiences a flux of immigration that significantly increases its workforce. What will happen if the country's physical capital stock remains unchanged?

▸ Red Country's income per worker will increase.

▸ The marginal contribution of labor to Red Country's output will fall.

▸ Total output will decrease.

▸ Total efficiency units of labor in Red Country will increase.
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Macroeconomics

Macroeconomics


Edition: 3rd
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anikamazumderanikamazumder
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