If the price of a resource increases, other things constant, less of that resource will be hired because
a. producers will substitute away from that resource
b. producers fear starting a trend toward higher resource prices
c. the demand curve for the product will shift to the left
d. highly paid resources don't produce as much
e. it makes other resources look expensive as well
A
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What will be an ideal response?
A firm that accepts deposits from savers, and then use these deposits to make loans, is a
a. money market multiplier b. Federal Reserve bank c. financial intermediary, such as a bank d. stock broker or bond broker e. fractional reserve holder
Of the four countries below, which has the highest degree of income inequality?
a. Germany b. Turkey c. South Africa d. Mexico
.Which of the following will most likely occur during the expansionary phase of a business cycle?
What will be an ideal response?