Which of the following can shift the labor demand curve to the right?
a. Decrease in product price.
b. Increase in wages.
c. Decrease in wages.
d. Decrease in the MP.
e. Increase in productivity.
e
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Consumer’s surplus is what one consumer is willing to pay for a commodity over what another consumer is willing to pay for the same commodity.
Answer the following statement true (T) or false (F)
A factor of production that cannot be easily changed in the relevant time period is called a
A) short-run factor. B) fixed input. C) variable input. D) production anchor.
A demand schedule is a numerical tabulation of the ___________________ of a good at different ____________________
A) quantity supplied; prices B) quantity demanded; incomes C) quantity demanded; prices D) quantity supplied; incomes
To limit political influence on Fed policy, the terms of the Fed Board of Governors are staggered so that one new appointment is made every four years to coincide with the presidential elections
Indicate whether the statement is true or false