If there is an increase in the price of the final good that an industry produces, the labor demand curve in the industry is likely to:
A) shift to the left.
B) shift to the right.
C) become vertical.
D) become horizontal.
B
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An individual or country that has a comparative advantage in the production of one good
A) may or may not have an absolute advantage in the good's production. B) must have an absolute advantage in the good's production. C) must not have an absolute advantage in the good's production. D) must not have an absolute advantage in the production of the other good.
If you pay a constant percentage of your taxable income in taxes, the tax is
A) regressive. B) random. C) proportional. D) progressive.
Given the characteristics: (1) many buyers and sellers, (2) free entry and exit, (3) perfect information, and (4) heterogeneity of products, monopolistic competition and perfect competition share
A. (1) and (4). B. (1), (2), and (3). C. (2) and (4). D. (2), (3), and (4).
The Fed wants to increase the quantity of funds available through the Term Auction Facility. The Fed sets the a. price of the loan, and money supply increases
b. quantity of borrowing, and money supply increases. c. price of the loan, and money supply decreases. d. quantity of borrowing, and money supply decreases.