Refer to Table 13-2. What is likely to happen to the product's price in the long run?
A) It will fall.
B) It will remain constant.
C) It will increase.
D) This cannot be determined without information on its long-run demand curve.
A
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Which of the following is a Eurodollar claim?
A) A U.S.-dollar deposit by a London firm in a Kansas City bank B) A Swiss-franc deposit by a German firm in a Swiss bank C) A U.S.-dollar deposit by a New York firm in a London bank D) A Canadian-dollar deposit by a London firm in a Toronto bank
Which of the following statements is true?
a. A company can manipulate uncontrollable factors to increase the demand for its product b. A company can manipulate uncontrollable factors to increase the supply of its product c. A company cannot manipulate uncontrollable factors to increase the demand for its product d. A company cannot manipulate controllable factors to increase the demand for its product
An increase in the productivity of labor induces
A) an increase in the demand for labor. B) an increase in the cost of labor. C) a firm to hire fewer workers since fewer workers are needed with the increase in productivity. D) a firm to offer a higher wage for workers since the workers are now more productive.
Diminishing marginal rate of substitution can be seen when indifference curves
A) cross. B) are convex. C) are downward sloping. D) become flatter as we move down and to the right.