A decrease in the price of a firm's output will shift the firm's demand curve for labor to the right, other things being equal
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 18-1. Suppose that the U.S. government deficit decreases, causing interest rates in the United States to fall relative to those in the European Union. Assuming all else remains constant, how would this be represented?
A) Supply would increase, demand would increase and the economy moves from D to A to B. B) Supply would decrease, demand would increase and the economy moves from A to D to C. C) Demand would increase and the economy moves from A to B. D) Demand would decrease and the economy moves from B to A.
If a firm in a perfectly competitive industry maximizes profit by producing 100 units and the marginal cost of the 100th unit is $23, the price is
a. more than $23 since it's earning an economic profit b. $0.23 c. $2,300 d. $23 e. not able to be calculated from the data given
In the view of the classical school, unemployment
a. is a permanent condition b. disappears when everyone who is willing to work at the equilibrium wage finds employment c. exists because people do not interfere with the competitive process d. is only temporary because all wages and prices are rigid e. is necessary and not really harmful to the economy
Acidic deposition arises when
a. VOCs mix with carbon dioxide in the atmosphere and fall to earth as rain or snow b. carbon monoxide and sulfur dioxide combine to form acidic deposits c. sulfur and nitrogen oxides mix with other particles and fall to earth as rain, snow, or fog d. carbon dioxide and nitrogen oxides combine and reach the earth in precipitation