Other things being equal, an increase in wages paid to workers in firms making portable power banks will cause
A) the quantity of portable power banks demanded to increase.
B) the quantity of portable power banks supplied to decrease.
C) the supply of portable power banks to decrease.
D) the demand for portable power banks to decrease.
Answer: C
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If a good has an income elasticity of 0.18, then it is:
A. a normal good, and a necessity. B. a normal good, and a luxury good. C. an inferior good, and a necessity. D. an inferior good, and a luxury.
Demand deposits multiplied by the required reserve ratio equal the amount of reserves
A. the Federal Reserve is required to hold. B. business firms are required to hold. C. a bank is required to hold. D. foreign investors are required to hold.
Troughs occur
A. two or three times a year. B. two or three times in every business cycle. C. at the bottom of business cycles. D. about once every 25 years.
An example of business fixed investment spending is
A) a purchase of a home by a household. B) a purchase of a computer by an accounting firm. C) a purchase of a bond by General Electric Corporation. D) $200 million of unsold cars at a car dealership.