In which statement(s) is "demand" used correctly? (I) "An increase in the price of hamburgers will reduce the demand for hamburgers." (II) "An increase in the price of hamburgers will reduce the demand for hamburger buns."
a. in both statements I and II
b. in statement I only
c. in statement II only
d. in neither statements I nor II
C
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The purpose of the restrictive debt covenant that prohibits borrowers from entering into certain types of leases is to
A. ensure a cash shortage does not cause an inability to meet current obligations. B. prevent liquidation of assets through large salary increases of key employees. C. protect the lender by controlling the risk and marketability of the borrower's security investments alternatives. D. limit the amount of fixed-payment obligations.
If the supply of labor in a purely competitive labor market increases, then the product
A. demand curve will shift to the left. B. supply curve will shift to the left. C. supply curve will shift to the right. D. demand curve will shift to the right.
Refer to the figure above. What is the equilibrium wage rate and equilibrium level of employment?
A) $35 and 10 units of labor B) $20 and 15 units of labor C) $15 and 35 units of labor D) $25 and 20 units of labor
A firm's goal is to maximize normal profit
Indicate whether the statement is true or false