Holding other factors constant, if computers allow factory workers to manufacture more products per hour, then the real wages of factory workers will ________ and employment of factory workers will ________.
A. decrease; not change
B. increase; increase
C. decrease; increase
D. increase; decrease
Answer: B
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Indicate whether the statement is true or false
The use of a tariff provides monopoly protection since
A) it allows more imports into the country. B) it reduces competition from imports by raising the import price. C) it reduces exporters' profits. D) it expands tax credits.
The difference between accounting profit and economic profit is
a. explicit costs. b. implicit costs. c. total revenue. d. marginal product.
___ is a model that depicts the successive stages a buyer passes through in the personal-selling process, including attention, interest, desire, and action
Fill in the blank(s) with the appropriate word(s).