An increase in the supply of labor generates
A) increased unemployment.
B) lower wages.
C) an offsetting increase in the demand for labor.
D) a decrease in the quantity demanded of labor.
B
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Recycling efforts such as those exemplified by BMW's Design for Disassembly (DFD) program
a. permanently diminish the flow of residuals back to nature b. are not represented in the materials balance model c. represent short-term conversion of residuals into recycled materials or goods d. reduce the amount of wastes returned to nature in the long-run
Because oil price increases reduce the consumption of oil, this discourages the development of oil substitutes
Indicate whether the statement is true or false
What was not a problem with using commodity money in the US colonies prior to 1700?
a. Very few people were willing to accept commodities as payment. b. Commodity spoilage rates were high. c. Controlling the quality of payments made with commodities. d. High storage costs of commodities.
In order for a firm to face a perfectly elastic demand curve, it must
a. be a large firm selling a standardized product b. be a small producer selling a standardized product c. be a small producer; its product may or may not be standardized d. be a large producer selling a non-standardized product e. sell a standardized product, but the size of the firm is irrelevant