According to the? input-substitution effect, an increase in the wage ? increases decreases the quantity of labor per unit of ? output input ?, so the quantity of labor demanded ? decreases increases .

The U.S. economy is relatively open in terms of economic activity related to international trade.

Answer the following statement true (T) or false (F)

The practice of setting price by increasing the average costs of production by some percentage is referred to as:

A) average cost pricing. B) percentage pricing. C) rate-of-return pricing. D) markup pricing.

Increases in spending on education will lead to an increase in student performance.

A. True B. False C. Uncertain

As the price level falls

a. people will want to buy more bonds, so the interest rate rises. b. people will want to buy fewer bonds, so the interest rate falls. c. people will want to buy more bonds, so the interest rate falls. d. people will want to buy fewer bonds, so the interest rate rises.