In a competitive labor market, if the demand for labor decreases, labor demand will shift to the:
A. right and wages will increase.
B. left and wages will increase.
C. right and wages will decrease.
D. left and wages will decrease.
D. left and wages will decrease.
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If the market clearing price of computer tablets rises from $400 to $600, and the market clearing output decreases from 5 million to 4 million units,
A) demand decreased and supply remained unchanged. B) supply increased and demand remained unchanged. C) demand increased and supply remained unchanged. D) supply decreased and demand remained unchanged.
Concern about the ability of independent foreign firms to maintain product quality
A. is an inherent disadvantage faced by the multinationals. B. makes FDI preferable to licensing firms in the foreign markets. C. makes licensing firms in the foreign markets preferable to foreign direct investment (FDI). D. often results in the formation of a license agreement between a foreign firm and a multinational enterprise.
An application of behavioral economics is:
A. rational cost-price decision making. B. price inconsistency. C. forgetting the fungibility of money. D. All of these are applications of behavioral economics.
The Federal Reserve can increase aggregate demand by:
A. Reducing the money supply B. Reducing the discount rate C. Raising the reserve requirement D. Selling government securities in the open market