A firm will tend to follow competitors when they increase spending on R&D, but will not follow them when they decrease such spending
a. True
b. False
Indicate whether the statement is true or false
True
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Other things being equal, a decreased supply of natural resources would be represented on a production possibilities curve by a(n):
a. movement off the curve to a point inside the curve. b. movement down along the curve. c. movement up along the curve. d. inward shift of the entire curve.
Discuss the factors behind the recent decline in labor union membership
The periods of temporary unemployment that correspond to short gaps between jobs create
A. per capita unemployment. B. superficial unemployment. C. frictional unemployment. D. cyclical unemployment.
Which of the following will definitely occur when there is an increase in the supply of and decrease in demand for MP3 players?
A. an increase in equilibrium quantity B. an increase in equilibrium price C. a decrease in equilibrium price D. a decrease in equilibrium quantity