Henry Ford
A. was the second automobile manufacturer to use a moving assembly line.
B. was the first automobile manufacturer to manufacture a standardized engine with interchangeable parts.
C. sold millions of cars at a small unit of profit that allowed his company to keep auto prices low and wages high.
D. all of the statements are true.
C. sold millions of cars at a small unit of profit that allowed his company to keep auto prices low and wages high.
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As the result of a decrease in capital, the demand for labor would ________, the supply of labor would ________, and the real wage would ________
A) decrease; decrease; decrease B) decrease; remain the same; increase C) decrease; remain the same; decrease D) decrease; increase; remain the same
This type of firm would likely operate as a monopoly
A) one of many U.S. wheat farmers. B) one of the few U.S. auto makers. C) AT&T long distance phone service. D) the local water company.
If demand is taken into account, firms that use cost-plus pricing can adjust price by
A) letting sales fall, but hold the markup constant if demand falls. B) lowering markups on price-elastic goods and raising markups on price-inelastic goods. C) letting sales rise, but hold the markup constant if demand rises. D) raising markups on price-elastic goods and lowering markups on price-inelastic goods.
In the IS equation, which of the following is an exogenous variable?
A) planned investment spending B) real interest rate C) consumption D) all of the above E) none of the above