The output effect states that if the price of a resource __________, output of the final product will __________.
A. rises; decline
B. rises; increase
C. falls; decline
D. None of these choices are correct.
A. rises; decline
You might also like to view...
As income and production rise, the demand for real money balances will ________ and interest rates will ________
A) fall; fall B) rise; rise C) rise; fall D) fall; rise
A key reason that Congress established the Fed to act as a lender of last resort was to prevent ________, the process by which a run on one bank spreads to other banks, resulting in a bank panic
A) contagion B) asset inflation C) moral hazard D) bailouts
The monopsonist's labor supply curve is the same as the
a. wage rate b. marginal revenue product curve c. marginal physical product curve d. market labor demand curve e. market labor supply curve
Law of Supply and Demand
What will be an ideal response?