Demand curves often do not remain stationary; they shift because of changes in other variables.
Answer the following statement true (T) or false (F)
True
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We say that the demand for labor is a derived demand because
A. labor is hired using the MRP = MRC rule. B. the forces of supply and demand do not apply directly to labor markets. C. we demand the product that labor helps produce rather than labor service per se. D. labor is a necessary input in the production of every good or service.
Which one of the following statements is true?
a. Money flows from households to firms for resources. b. Money flows from households to foreign economies for exports. c. Money flows from government to firms for resources. d. Money flows from foreign economies to firms for imports. e. Money flows from firms to households for resources.
Utility theory is an efficient tool in making interpersonal utility comparisons
a. True b. False Indicate whether the statement is true or false
Large firms can take advantage of economies of ___________.
Fill in the blank(s) with the appropriate word(s).