Derived demand is
A. the demand for goods and services produced by companies using scarce resources.
B. a derivative of the demand curve.
C. the demand for the factors of production that are used to produce goods and services.
D. the demand for advertising to increase the sales of the product.
Answer: C
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An additional worker will add to the profit of a business, and therefore be more likely to be hired, if the
A. marginal cost of labor is greater than the marginal revenue. B. marginal revenue is less than the price of the output of the business. C. average cost of labor is positive. D. wage is less than the marginal revenue.
One reason the U.S. government is sensitive to demands by the elderly is that the elderly have higher voter participation rates than members of other age groups
a. True b. False
A decrease in government purchases can close an expansionary gap by shifting the aggregate demand curve
a. True b. False Indicate whether the statement is true or false
Which of the following are factors that will modify the size of the deposit expansion multiplier?
A. A foreign trade imbalance B. Cash C. Excess reserves D. Change in reserve requirements of all these factors