Assuming inflexible prices, if the demand for many goods and services falls across the entire economy and for ' an. extended period of time:
A)many firms will face with an inventory pile up and will be forced to cut production.
B) many firms will face a constant reduction in their inventories and will be forced to hire more workers.
C) many firms will face a constant reduction in their inventories.
D) many firms will face with an inventory pile up and will be forced to hire more workers.
A)many firms will face with an inventory pile up and will be forced to cut production.
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Social Security tax is deducted from your paycheck. In the figure above this will be shown as
A) taxes flowing from households to governments. B) taxes flowing from firms to governments. C) taxes flowing from households to firms. D) wages flowing from firms to households. E) wages flowing from firms to governments.
Refer to the above table. For which prices is demand inelastic?
A) in a range of prices below $6.00 B) in a range of prices above $6.00 C) in a range of prices between $5 and $1 D) in a range of prices above $9.00
The Reagan administration's 1981 personal income tax changes were designed to: a. stimulate aggregate demand and reduce unemployment
b. stimulate aggregate demand and increase economic growth. c. stimulate aggregate supply and increase economic growth. d. decrease aggregate demand in order to reduce inflation. e. increase tax revenues to reduce the federal budget deficit.
Waldo works eight hours and produces 7 units of goods per hour. Emerson works six hours and produces 10 units of goods per hour
a. Waldo's productivity and output are greater than Emerson's. b. Waldo's productivity is greater than Emerson's but his output is less. c. Emerson's productivity and output are greater than Waldo's. d. Emerson's productivity is greater than Waldo's but his output is less.