The steepness of a curve is partially determined by the units of measurement.
Answer the following statement true (T) or false (F)
True
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An economic slow-down predicts the new equilibrium wage would be:
A. lower because the labor demand curve shifts left. B. higher because the labor demand curve shifts left. C. lower because the labor demand curve shifts right. D. higher because the labor demand curve shifts right.
A firm might offer efficiency wages in order to attract a better pool of applicants
a. True b. False Indicate whether the statement is true or false
Exhibit 11-1Use the information below to answer the following question(s). National income accountBillions ofdollars Personal consumption expenditures$900 Personal taxes 180 Government consumption and gross investment 300 Interest income 60 Exports 40 Imports 75 Depreciation 60 Gross private domestic investment 200 Refer to Exhibit 11-1. What is this country's gross domestic product?
A. $1,225. B. $1,305. C. $1,365. D. $1,440.
Suppose the price of tomatoes dramatically increases. Which of the following could cause this change?
A. A news report stating that a pesticide used on tomatoes might cause cancer, shifting the demand to the right B. Hurricanes during the late summer damage the Florida crop, shifting supply left C. Advertising for ketchup increases demand for ketchup, shifting the demand curve to the left D. A reduction in tariffs of tomatoes from Central American, shifting supply right