A demand curve generally
a. is a straight horizontal line.
b. is a straight vertical line.
c. slopes downward to the right.
d. slopes downward to the left.
c. slopes downward to the right.
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The unemployment rate for married men is usually higher than the rate for teenagers.
Answer the following statement true (T) or false (F)
Exhibit 11- 7 Demand for labor curves
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In Exhibit 11-7, which of the following could have caused the shift in labor demand from D1to D2?
A. Increase in the demand for the product. B. Decrease in wages. C. Decrease in price of product. D. Decrease in demand for the product.
Which of the following represents an uninsurable risk to a business firm?
A. The possibility that its warehouse will burn down. B. The possibility that several of its workers will be injured at work. C. The possibility that an adverse change in consumer tastes will decrease the demand for the firm's product. D. The possibility that a tornado will damage the plant and stop production for a month.
From Table 2.1, and under the most likely scenario where columns A and B are assigned to represent quantity demanded and quantity supplied, which is the equilibrium quantity?
A. 1 unit B. 2 units C. 3 units D. 4 units