If snowboarding increases in popularity, what would be expected to happen to the demand and wages of workers who make the snowboards?
A. demand decreases and wages increase
B. demand decreases and wages decrease
C. demand increases and wages decrease
D. demand increases and wages increase
Answer: D
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How are money cost and opportunity cost related to each other?
A. If markets function well, they are closely related. B. They are always identical in any economic system. C. Opportunity cost must always exceed money cost. D. Money cost is greater than or equal to opportunity cost. E. In a market economy, they must be equal to each other.
The most volatile component of GDP over the business cycle is
a. consumption. b. net exports. c. investment. d. government purchases.
You have a bond that you can redeem for $10,000 one year from now. The interest rate is 3 percent (0.03) per year. How much is the bond worth today?
a. $9,090.91 b. $10,000.00 c. $8,264.46 d. $9,708.74 e. $9,000.00
If the inflation rate in the U.S. is higher than in other countries, the value of the dollar in international currency markets will be expected to
A. remain unchanged. B. rise. C. fall.