Which of the following is likely to lead to a left shift in the demand curve for labor in the petroleum extraction industry?
A) An increase in the wage rate
B) A decrease in the wage rate
C) An increase in the price of cars
D) An increase in the price of petroleum
C
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Opportunity cost refers to how many inputs a producer requires to produce a good
a. True b. False Indicate whether the statement is true or false
Recession come at
a. regular intervals. During recessions consumption spending falls relatively more than investment spending. b. regular intervals. During recessions investment spending falls relatively more than consumption spending. c. irregular intervals. During recessions consumption spending falls relatively more than investment spending. d. irregular intervals. During recessions investment spending falls relatively more than consumption spending.
Suppose that the supply curve remains unchanged. If the demand curve shifts to the right
A) the market clearing price definitely will decrease. B) the market clearing price definitely will increase. C) there will be no change in the market clearing price. D) the market will collapse.
If you hear a person saying "I lost my job at a call center because my employer has outsourced all customer service to India," you should conclude that this person is ________ unemployed.
A. cyclically B. structurally C. seasonally D. frictionally