Which of the following is least likely to affect the supply of labor in any particular industry?
A. The size of the available working population
B. The nonmonetary attractiveness of the job
C. The amount of ability and training necessary to enter the job
D. The wages offered in the industry
Answer: D
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Based on the figure above, curve C is the firm's
A) marginal cost curve. B) total cost curve. C) average total cost curve. D) average variable cost curve. E) average fixed cost curve.
McDonalds kept its U.S.-based menu when entering the Chinese market
Indicate whether the statement is true or false
The dynamic process of competition
a. is hindered by the self-interest of business decision makers. b. puts the profit motive of sellers to work for buyers. c. conflicts with the interest of consumers when businesses pursue profit rather than the public interest. d. will permit business decision makers to earn long-run economic profit unless they are regulated by government.
Which of the following could explain an increase in the equilibrium interest rate and a decrease in the equilibrium quantity of loanable funds?
a. The demand for loanable funds shifted right. b. The demand for loanable funds shifted left. c. The supply of loanable funds shifted right. d. The supply of loanable funds shifted left.