Assume a country uses labor and capital to produce two goods. Also assume labor is always mobile between industries, but the distribution of capital…
Assume a country uses labor and capital to produce two goods. Also assume labor is always mobile between industries, but the distribution of capital between industries is fixed in the short-run. An increase to the labor supply of this country will cause the production of both goods in this country to increase:A.In only the short-run.B.In only the long-run.C. In both the short-and long-run.D. In the […]