The demand for labor is described as a derived demand because
A) it is derived from the demand for products that use labor in the production process.
B) it is derived by workers seeking to earn income to fund the consumption of goods and services.
C) it is derived from government institutions which rely on labor markets for the purpose of raising tax revenue.
D) it is derived by producers seeking to make profits by starting new businesses.
A
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Explain why environmental damage would be classified as an externality.
What will be an ideal response?
You're traveling in Japan and are thinking about buying a new kimono. You've decided you'd be willing to pay $175 for a new kimono, but kimonos in Japan are all priced in yen
If the kimono you're looking at costs 14,000 yen, under which of the following exchange rates would you be willing to purchase the kimono? (Assume no taxes or duties are associated with the purchase.) A) 24.5 yen per dollar B) 65 yen per dollar C) 80 yen per dollar D) You would purchase the new kimono at any of the above exchange rates.
When impoverished peasants in South America and Asia cannot be convinced to stop growing crops for drug production, their situation demonstrates how poverty
a. lowers worker productivity. b. leads to environmental problems. c. supports transnational crime. d. creates health threats.
Self-interest
A. implies that a person must try to increase wealth at all times. B. is consistent with many goals that people pursue, including betterment of others. C. applies only to people in market settings. D. implies that people will not give away wealth.