Trade sanctions were effective in getting N. Korea to give up its nuclear missile program.
Answer the following statement true (T) or false (F)
False
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Which of the following sources of productivity is the most difficult to acquire?
A) education B) experience C) talent D) training
A study of consumers in an area found that as family income increased from $25,000 per year to $35, 000 per year, other factors held constant, the number of houses purchased increased from 7,000 per year to 11,000 per year. This finding indicates an income elasticity of demand coefficient for housing over this family income range of:
a. 0.22. b. 0.75. c. 1.33. d. 4.50.
The substitution effect of wages explains shifts in the labor supply curve.
Answer the following statement true (T) or false (F)
If there is a technological advance that lowers the cost of producing x-ray machines, then we can say that the
A. quantity supplied of those machines will go up. B. quantity demanded for those machines will increase. C. demand for those machines will shift right. D. quantity supplied of those machines will decrease.