Suppose a firm is considering producing zero units of output. We call this exiting an industry in the short run and shutting down in the long run
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Increased labor demand will result in
A) lower wages. B) more employment benefits. C) higher wages. D) no change in wages.
The quantity demanded is
A) always equal to the equilibrium quantity. B) independent of the price of the good. C) the amount of a good that consumers plan to purchase at a particular price. D) independent of consumers' buying plans.
For many jobs, as wages increase, the quantity supplied of labor increases. This set of facts is evidence that the
A) substitution effect is larger than the income effect and the supply of labor curve is upward sloping. B) income effect is larger than the substitution effect and the supply of labor curve is upward sloping. C) substitution effect is larger than the income effect and the supply of labor curve is backward bending. D) income effect is larger than the substitution effect and the supply of labor curve is backward bending.
Why would people outside the United States choose to hold dollars?
What will be an ideal response?