A decrease in demand for a firm's output results in a(n):
A. increase in labor demand.
B. increase in labor supply.
C. decrease in labor demand.
D. decrease in labor supply.
Answer: C
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A reduction in the cost of cable TV subscriptions will ________ the ________ for televisions
A) decrease; supply B) decrease; demand C) increase; supply D) increase; demand E) None of the above is correct.
How does time preference affect one's willingness to invest in human capital?
A) A higher rate of time preference tends to increase human capital investment. B) A higher rate of time preference tends to decrease human capital investment. C) A lower rate of time preference tends to decrease human capital investment. D) Economists have found no relationship between time preference and human capital investment.
Risk aversion:
A. is the same for everyone. B. is an unusual type of preference. C. is an aspect of an individual's preferences. D. All of these statements are true.
Refer to Figure f. A benefit function is plotted in Figure f. The letter D represents the:
A. risk premium of the consumption bundle.
B. expected utility of the consumption bundle.
C. certainty equivalent of the consumption bundle.
D. expected consumption.