Which of the following would not shift the market demand for labor, ceteris paribus?
A. The productivity of labor.
B. The number of employers.
C. The demand for final products.
D. The wage paid to labor.
Answer: D
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"When a person has an absolute advantage in producing a good, the person necessarily has a lower opportunity cost of producing it." Is this assertion true or false?
What will be an ideal response?
Suppose Marquette Bank and Trust has $10 million in total deposits and the required reserve ratio is 7%. How many dollars can the bank use to seek profit opportunities?
A) $9.3 million B) $7 million C) $930,000 D) $700,000 E) 0. Banks cannot seek profits.
According to new growth theory, technological change is driven by
A) random chance. B) government policies. C) foreign firms' attempts to increase their sales in the domestic market. D) firms' attempts to increase their profit.
Consider a small hair styling salon. List some examples of implicit costs of this business