If the demand for a consumer good increases, the demand for resources required to make the good will
a. remain the same, but the quantity demanded will increase.
b. decrease if the demand for the consumer good is inelastic, otherwise the demand will increase.
c. stay the same, but the quantity demanded will decrease.
d. increase.
D
You might also like to view...
The standard of living is measured by
A) employment. B) the population. C) real GDP per person. D) real GDP. E) employment per person.
Protection in the form of tariffs or quotas is a very inefficient tool for job creation and preservation
Indicate whether the statement is true or false
A person who is currently not working and has stopped looking for a job because he or she is convinced there is no job available is classified as a
A) discouraged worker. B) disgruntled worker. C) depressed worker. D) dissatisfied worker.
The efficient level of public good provision is determined
a. where the market demand curve intersects the marginal cost curve b. where the sum of individual valuations equals the sum of marginal costs c. without regard to economic factors d. where marginal revenue product equals marginal factor cost e. at the minimum point of the average total cost curve