How would a decrease in the price of the feed grains used to feed cattle affect the market for beef?
a. The demand for beef would increase, increasing beef prices.
b. The demand for beef would decrease, decreasing beef prices.
c. The supply of beef would increase, decreasing beef prices.
d. The supply of beef would decrease, increasing beef prices.
c
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Use the following graph to answer the question below.
If the price is P3, then the total revenue is represented by area
A. E + F + G. B. B + C + D + E + F + G. C. B + C + D. D. A + B + C + D + E + F + G.
The gift exchange motive suggests that
A) workers value benefits like health insurance more than job security. B) workers prefer a nice work environment, even if they must accept lower wages. C) workers who feel well treated will work harder and more efficiently. D) workers will shirk if they are paid a low wage.
A major reason for the increase in school attendance by children between 1999 and 2015 throughout the world was:
A. the abolishment of school fees. B. the creation of labor laws forbidding child labor. C. an increase in the minimum wages adults could earn. D. the imposition of legislation that forced children to become educated.
Bob works for a firm that produces umbrellas. He receives payment for his labor. The firm wants to expand but lacks the capital needed for the expansion. Bob, a person of some means, provides the capital. What market(s) are these payments made in?
a. illegal market b. goods and services market c. product market d. resource market e. umbrella market