A given supply curve illustrates
A. the effect of a change in technology on quantity supplied.
B. the effect of a change in resource costs on quantity supplied.
C. the relationship between expected future prices and quantity supplied.
D. the relationship between price and quantity supplied.
Answer: D
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Which of the following will have a downward impact on efficiency wages?
a. Low monitoring costs b. Excess supply in the labor market c. High equilibrium wage rate d. Excess demand in the labor market
Countries with high labor costs tend to:
a. rely on only one method for the production of goods b. use more labor rather than capital in the production process. c. use more capital rather than labor in the production process. d. be relatively poor countries.
If the president claims that more people are working now than ever before, then which of the following must be true?
a. The unemployment rate is lower now than ever before. b. The number of people unemployed is lower now than ever before. c. The employment rate is higher now than ever before. d. The number of people in the labor force is higher now than ever before. e. The number of people employed is higher now than ever before.
The development of complex algorithms that perform "brain work" in the future is likely to:
A. increase the number of jobs requiring little thought. B. higher income equality. C. increase overall employment. D. lengthen the overall workweek.