A decrease in the demand for musicians ________ the number of musicians employed, and ________ the wages paid to musicians.
A. increases; increases
B. increases; decreases
C. decreases; increases
D. decreases; decreases
Answer: D
You might also like to view...
The production possibilities curve illustrates the basic principle that
A. an economy’s capacity to produce increases in proportion to its population. B. if all resources of an economy are in use, more of one good can be produced only if less of another is produced. C. an economy will automatically seek that output at which all of its resources are employed. D. no opportunity cost exists in production.
The value of future payments is affected by
A. The possibility of nonpayment. B. The par value. C. The level of dividends. D. Capital gains.
Other things the same, which of the following would shift the supply of dollars in the market for foreign exchange to the right?
a. foreigners want to buy more U.S. bonds b. foreigners want to buy fewer U.S. bonds c. foreigners want to buy more U.S. goods and services. d. foreigners want to buy fewer U.S. goods and services.
For production to be at the ________ level of output, marginal benefit must equal social cost.
A. loss-minimizing B. profit-maximizing C. efficient D. shut-down