Which of the following will NOT cause market supply to increase?
A) an increase in the number of firms supplying the product in the market
B) a change in technology which allows a larger level of production at every price
C) an increase in the costs of resources used to produce the product
D) a decrease in labor costs
Answer: C
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The poverty rate for blacks is _____________ the poverty rate for non-Hispanic whites.
A. almost three times B. about 50% more than C. slightly higher than D. a little lower than
In an internal labor market, employees often spend too much time lobbying for promotions or preferred job assignments. These are referred to as
A. human capital costs. B. influence costs. C. administrative costs. D. market costs.
Economics is the study of how:
a. humans make decisions in the face of scarcity. b. resources are used to meet human needs. c. humans make decisions when there is an abundance of goods. d. human needs translate to business transactions.
The Federal Trade Commission regulates which of the following?
A) unfair trade practices by businesses B) financial markets C) trade with third world countries D) the banking industry