The demands for labor and other input factors are called
A. derived demands, because the demand for these inputs depends on the demand for goods and services they are employed to produce.
B. indirect demands, because the demand for these inputs is indirectly related to the costs of advertising products.
C. developed demands, because the demand for these inputs is developed from an analysis of the costs of advertising products.
D. reverse demands, because the demand for these inputs varies inversely with the demand for goods and services they are employed to produce.
Answer: A
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Refer to Figure 23-3. Suppose that government spending increases, shifting up the aggregate expenditure line. GDP increases from GDP1 to GDP2, and this amount is $200 billion. If the MPC is 0.8, then what is the distance between N and L or by how much did government spending change?
A) $16 billion B) $40 billion C) $200 billion D) $1,000 billion
A depreciation of one's currency means that:
a. the country's exports will become more expensive. b. the country's imports will become more expensive. c. the country's imports will become less expensive. d. it now requires less of this currency in exchange for one unit of another currency. e. it now requires more units of other currencies in exchange for one unit of this currency.
Explain the problem encountered by successive monopolies? How can the supplier and the producer overcome this problem?
The supply curve of truck drivers is upward sloping and demand curve is downward sloping. A reduction in the price of hauling freight by truck relative to the price of hauling freight by rail will ____ the equilibrium wage of truck drivers and ____ the number of drivers employed
a. decrease; decrease b. decrease; increase c. increase; decrease d. increase; increase