Country A has a lower stock of capital than Country B, but the supply of labor in both the countries is equal.
A) An additional unit of capital will increase output in Country A only if there is an increase in the total efficiency units of labor.
B) The increase in output due an additional unit of capital will be larger in Country A than in Country B.
C) The increase in output due an additional unit of capital will be smaller in Country A than in Country B.
D) An additional unit of capital will increase output in Country B only if there is an increase in the total efficiency units of labor.
Question 2
Suppose a bank has 300,000 in deposits, a reserve ratio of 5 percent, and bank reserves of 45,000. This bank can make new loans in the amount of
A) 345,000. B) 45,000. C) 30,000. D) 15,000.
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