Which of the following will not lead to an increase in the demand for labor for a firm producing automobiles?
A) a decrease in labor productivity
B) an increase in the price of robots that are used to solder parts of the car together
C) an increase in the demand for automobiles
D) an increase in the price of automobiles
A
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Individuals are forced to make choices because
A. human wants are limited. B. the supply of resources is infinite. C. wants are unlimited and resources are scarce. D. resources are unlimited.
When the Rent-A-Limo Company negotiates its new labor contract it finds that the wages it must pay drivers have increased
How does this wage hike affect the Rent-A-Limo Company's average fixed cost, average variable cost, average total cost, and marginal cost?
The consequences of an economic change that are not immediately identifiable but are felt only with the passage of time are known in economics as
a. opportunity costs. b. utility curves. c. secondary effects. d. comparative advantages.
Economics is best defined as the study of:
A. whether we will have enough resources in the future. B. choice in the face of limited resources. C. the financial concerns of businesses and individuals. D. the role of government in limiting the choices people make.