In case of the textile industries of England in 1811, the invention of new technology that allowed workers to complete tasks in minutes that had previously taken hours, resulted in a(n):
A) increase in the demand for labor in the textile industries.
B) increase in the quantity demanded of labor in the textile industries.
C) decrease in the demand for labor in the textile industries.
D) decrease in the quantity demanded of labor in the textile industries.
C
You might also like to view...
Total cost includes:
A. one-time expenses and ongoing expenses. B. forgone opportunity costs. C. the amount the firm spends on all inputs that go into the production of a good or service. D. All of these are true.
Which statement about U.S. poverty rates is true?
a. Poverty rates decreased during the 1960s. b. Poverty rates were at their lowest in 2011. c. Poverty rates increased during the 1970s. d. Poverty rates decreased significantly in 2013.
Sky-High Skywriters raises its price, and the other four firms in the industry raise their prices in response. Coordination in this industry is accomplished by
A. Predatory pricing. B. Price leadership. C. Retaliation. D. Price-fixing.
One reason that "near-monies" are important is because:
A. They simplify the definition of money and therefore the formulation of monetary policy B. They can be easily converted into money or vice versa, and thereby can influence the stability of the economy C. They do not reflect the level of consumer spending but they have a critical impact on saving and investment in the economy D. Credit cards synchronize one's expenditures and income, thereby reducing the cash and checkable deposits one must hold