Refer to the information provided in Figure 3.10 below to answer the following question(s).
Figure 3.10Refer to Figure 3.10. An increase in the wage rate of pizza makers will cause a movement from Point B on supply curve S2 to
A. Point A on supply curve S2.
B. supply curve S1.
C. Point C on supply curve S2.
D. supply curve S3.
Answer: B
You might also like to view...
In a fractional-reserve banking system the reserve/deposit ratio equals:
A. 100 percent. B. more than 100 percent. C. less than 100 percent. D. currency held by the public divided by deposits.
The functional distribution of income measures which of the following?
A) the distribution of income among households B) how federal tax revenues are related to the business function that employs taxpayers C) the proportion of income generated by the four types of expenditures on goods and services D) the distribution of earnings by the factors of production E) the distribution of income among nations
Classifying a good as nonrival means
A) that there is a surplus of the good. B) that the good is produced in a competitive market. C) that the producer can prevent people from consuming it. D) that many people can consume the good simultaneously.
Comment on the following statement: "The Coase theorem implies that the contending parties will come to the efficient solution regardless of where rights are initially assigned."
What will be an ideal response?