A short-run increase in the price of a firm's output will typically
A) lead to a movement along the firm's demand for labor curve.
B) lead to more employment in the competitive firm.
C) not impact the hiring of labor.
D) make the demand for labor more inelastic.
B
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In the U.S. taxes:
a. are higher as a share of GDP than in France b. rely more on sales taxes than on income taxes c. have higher shares of social security contribution than in Europe d. none of the above
People behave rationally when they
A. make decisions they think will make themselves better off. B. follow the advice of government leaders. C. make decisions with a focus only on financial outcomes. D. never have regrets about their decisions.
If a linear supply curve has a zero intercept, the elasticity of supply is always unitary
Indicate whether the statement is true or false
When the price of a good decreases, the budget constraint shifts out parallel to the original budget constraint.
Answer the following statement true (T) or false (F)