What will happen to the demand curve for workers in cotton farms if the price of cotton falls, assuming all else equal?
A) There will be a downward movement along the demand curve for these workers.
B) There will be a leftward shift in the demand curve for these workers.
C) There will be an upward movement along the demand curve for these workers.
D) There will be a rightward shift in the demand curve for these workers.
B
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According to new growth theory, economic growth is driven by
A) new ideas. B) the division of labor. C) positive externalities. D) higher birth rates.
In monopolistic competition, an increase in a firm's advertising
A) has no effect on its average cost curves. B) has no effect on demand. C) increases the firm's average total cost. D) increases the firm's marginal cost.
Refer to Figure 4-3. If the market price is $2.50, what is Kendra's consumer surplus?
A) $9.00 B) $7.50 C) $1.50 D) $0
Under the gold standard of a century ago, the world's commerce
a. nearly collapsed before the beginning of World War I. b. was at the mercy of gold discoveries. c. grew steadily without interruption from monetary disturbances. d. grew when the gold stock grew slowly, and shrank when gold discoveries increased.