According to this Application, from the early 1990s until quite recently, the U.S. economy grew. This growth in the U.S economy
A) decreased foreign investment in the U.S. B) decreased imports to the United States.
C) caused the level of U.S. exports to decline. D) increased the U.S. demand for foreign products.
D
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Which of the following is likely to lead to a right shift in the demand curve for labor in the coffee producing industry?
A) A decrease in the price of tea B) An increase in the demand for tea C) A decrease in the demand for coffee D) An increase in the demand for coffee
City-Mart is the only employer of sales clerks in Panburg. In the figure above S is the labor supply curve faced by City-Mart, VMP is City-Mart's value of marginal product curve, and MCL is its marginal cost of labor curve
The lowest wage rate at which City-Mart can hire 40 hours of labor per day is A) $8 per hour. B) $12 per hour. C) $4 per hour. D) $9 per hour.
Productivity growth occurs when:
A) there are more inputs B) firms can produce more output per unit of input C) more output is produced D) employees work extra hours
A market economy is an economy where:
a. economic decisions are passed down from government authority and resources are owned by the government. b. economic decisions are economic decisions are centralized, resources are owned by private individuals, and businesses supply goods and services based on demand. c. economic decisions are decentralized, resources are owned by private individuals, and businesses supply goods and services based on demand. d. economic decisions are passed down from government authority and resources are owned by individuals.