The willingness and ability to work specific amounts of time at alternative wage rates is known as
A. Labor demand.
B. Derived supply.
C. Labor supply.
D. Derived demand.
Answer: C
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Which of the following will shift the supply curve for USB flash drives to the right?
A. an increase in the number of sellers B. an increase in consumers' incomes C. an increase in the cost of resources used to manufacture USB flash drives D. an increase in the number of buyers
Greater economic efficiency and income equality can usually both be achieved in an economy simultaneously.
Answer the following statement true (T) or false (F)
Although it may be difficult to draw causal relationships, still statistical evidence shows that, over time,
a. there is no relationship between levels of saving and economic growth b. there is an inverse relationship between levels of saving and economic growth c. higher levels of saving are associated with lower levels of economic growth d. lower levels of saving are associated with lower levels of economic growth e. lower levels of saving are associated with higher levels of economic growth
A firm whose production process exhibits constant returns to scale would find that if it doubled all of its inputs, its output would ________.
A. less than double B. remain constant C. more than double D. double