Health insurance should be provided to every citizen in a wealthy nation such as the United States. This statement is best described as
A. a positive statement.
B. a marginal statement.
C. a normative statement.
D. an implication of an efficient market.
Answer: C
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If a good is labor intensive it means that the good is produced
A) using relatively more labor than goods that are not labor intensive. B) using labor as the only input. C) using more labor per unit of output than goods that are not labor intensive. D) using labor such that the total cost of labor is greater than the total cost of capital. E) using labor such that the cost of labor is more than 50% of total cost.
If the price of hot dogs increases, what will happen in the market for potato chips, a complementary good?
a. demand will increase b. quantity demanded will increase c. demand will decrease d. quantity demanded will decrease e. supply will decrease
Which of the following is NOT characteristic of management by walking around?
a. large, secluded management offices b. employees comfortable with approaching management c. high levels of contact between management and employees d. increased productivity and morale
What is the difference between a change in supply and a change in quantity supplied?
Please provide the best answer for the statement.