1. Other things being
equal, an increase in wage rates
will increase the cost of labour relative to the cost of
2. The production of the Liberty ships showed similar
effects, the first
taking many months to build and the last
only three days.
3. In order to simplify the analysis we can consider two
firms, one being
representative of high-cost producers and
the other of low-cost producers.
4. Most industries make use of a variety of machines,
each machine carrying out a different operation.
5. The principle of
action being rather simple, the new
device was widely used for different purposes.
6. The selling price must relate to the production cost,
which in turn, depends on the quantity sold, this quantity
being dependent upon the sales price.
7. It being too late, they
decided to stop working.
8. Other things being
equal, the demand for a commodity will tend to vary
directly as the price of its substitute.
9. The installation was atomised last year, its capacity
rising by 20 per cent.
10. All the problems
having been solved, they went home.
11. The goods having
been loaded, the dockworkers left
12. Member nations are required to subscribe to the
capital stock of the World Bank, each
being given a quota
which is related to the member's national income and position in the
13. The International Monetary Fund (IMF) has projected world growth at 4.3 per cent with advanced economies growing by 2.7 per cent.