If the population increases, the market demand for most products will:
A. not change.
B. decrease.
C. increase.
D. depend on supply.
Answer: C
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Refer to Figure 16-2. What is the quantity sold to each group of customers and what is the total quantity sold?
A) quantity sold to students = Qc; quantity sold to non-students = Qe; total sales = Qe+Qc B) quantity sold to students = Qb; quantity sold to non-students = Qb; total sales = Qa C) quantity sold to students = Qc; quantity sold to non-students = Qb; total sales = Qb+Qc D) quantity sold to students = Qc; quantity sold to non-students = Qd; total sales = Qd+Qc
Collective bargaining is a process used by unions and management to settle upon the terms of a labor contract
a. True b. False Indicate whether the statement is true or false
A corporate merger occurs when: a. two formerly separate firms combine to become one single firm
b. one firm purchases another firm. c. two formerly separate firms decide to charge the same price for a product. d. one firm follows the exact actions of another firm.
In a labor-market separating equilibrium with high-skill and low-skill workers and where a costly educational degree is used solely as a signal device, we can say that
A) education is socially inefficient because it is costly and provides no useful skills to the worker. B) education is socially efficient. C) education is privately inefficient for high-skill workers. D) education is privately useful for low-skill workers only.