As productivity in the manufacturing sector increases, the service sector must keep pace or it will become more expensive in the long run
a. True
b. False
Indicate whether the statement is true or false
True
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A new law passed in Bonland requires all bikers to wear helmets while riding. It also states that those who do not wear helmets while riding will be punished. This law is likely to lead to a(n) ________
A) decrease in government expenditure B) increase in government expenditure C) decrease in tax rates D) increase in the overall price level
In the period 1960–95,
(a) the relations between capital and labor (owners and workers) continued to be as hostile and violent as they were in the 1930s and earlier. (b) the relations between capital and labor (owners and workers) continued to be cooperative and peaceful, as they had been throughout U.S. history. (c) an accord was struck which involved more cooperative relations between capital and labor and encouraged high rates of productivity in industry. (d) the federal government intervened with a strong hand to ensure that labor and capital worked together cooperatively.
If a market is in disequilibrium, economists would predict that the product's price would __________ to reach equilibrium when the quantity demanded is __________ than the quantity supplied
A) rise; greater B) fall; less C) fall; greater D) rise; less E) a and b
If income elasticity for a good or service is ______, then we can say that the good or service is ______.
A. zero; inferior B. negative; normal C. positive; inferior D. positive; normal