When a company's cost of compliance with health and safety legislation associated with labor resources increases, its demand for labor also increases
a. True
b. False
Indicate whether the statement is true or false
False
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If the demand increases in a perfectly competitive market, the price will:
A. temporarily decrease. B. increase permanently. C. decrease permanently. D. temporarily increase.
A tire manufacturer produces 400 tires valued at $20 each. Three hundred tires are sold to a tire shop, which then sells them to households for $50 each. The remaining tires are unsold and are added to the tire manufacturer's inventory. How much is added to GDP?
a. $8,000 b. $15,000 c. $17,000 d. $13,000
Which of the following is likely a variable cost?
A. Hourly wages B. Fuel C. Raw materials D. All of these choices are variable costs.
Nigeria would be classified by the International Monetary Fund as
A) a resource-based economy. B) an emerging market economy. C) a transition economy. D) a developing economy. E) an advanced economy.