A decrease in the price of a good will cause a decrease in the firm's demand for labor
Indicate whether the statement is true or false
T
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In 2014, GDP per capita was ________ in the United States than in China, and since 1980, the growth rate of real GDP per capita has been ________ in the United States than in China
A) lower; lower B) higher; lower C) lower; higher D) higher; higher
Fossil fuels are considered:
A. a renewable resource. B. a nonrenewable resource. C. physical capital. D. technology.
In the short run, a perfectly competitive firm is producing an output level where marginal cost equals $10, average total cost equals $7, and marginal revenue equals $9 . Which of the following statements is correct?
a. The firm is earning an economic profit which could be increased by raising output. b. The firm is earning an economic profit which could be increased by lowering output. c. The firm is maximizing its economic profit. d. The firm is suffering an economic loss which could be decreased by raising output. e. The firm is suffering an economic loss which could be decreased by lowering output.
If the Fed decides to buy T-bills, it increases the demand for T-bills. How will this affect the price of T-bills and the interest rate?
a. T-bill prices fall and interest rates fall. b. T-bill prices rise and interest rates rise. c. T-bill prices rise and interest rates fall. d. T-bill prices fall and interest rates rise.