Which of the following is likely to happen if consumption in an economy falls?
A) Asset prices rise. B) Mortgage defaults fall.
C) Labor supply falls. D) Layoffs rise.
D
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Assuming that wheat and corn can both be grown on the same type of land, a decrease in the price of corn, other things being equal, will cause a(n):
a. downward movement along the supply curve for wheat. b. upward movement along the supply curve for wheat. c. rightward shift in the supply curve for wheat. d. leftward shift in the supply curve for wheat.
Which of the following is the best example of an investment in human capital?
a. an increase in the number of hours worked per week by a worker in an unskilled laboring job b. the purchase of company stock by a worker c. a summer internship at a law firm for someone going to law school d. payments into a retirement pension plan by a skilled laborer
The labor supply curve shows how many workers are willing to work
A. at any given wage. B. in order to maximize the firm's profit. C. at the minimum wage. D. at any given time. E. in a particular industry.
Which of the following will shift today's supply curve to the right?
A) Input prices rise. B) Sales taxes increase. C) Prices are expected to be higher in the future. D) Prices are expected to be lower in the future.