Due to an economic recession, manufacturing firms began implementing layoffs of their workforces.
A. An increase in the price of automobiles will lead to a decrease in the quantity of automobiles demanded.
B. Due to process innovations in computer chip manufacturing, the market supply of computers increased.
C. Due to an economic recession, manufacturing firms began implementing layoffs of their workforces.
D. Anticipating that the benefits would outweigh costs involved, an undergraduate student purchases the course textbook.
Answer: C. Due to an economic recession, manufacturing firms began implementing layoffs of their workforces.
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For anything to be considered money it must be
A) either a commodity or a token, as long as it is generally accepted as a means of payment. B) a valuable commodity, such as gold. C) used in barter transactions. D) a mystical token, such as whale teeth. E) a token, such as a green piece of paper.
Henry can make a bird house in 3 hours and he can make a bird feeder in 1 hour. The opportunity cost to Henry of making a bird house is 1/3 bird feeder
a. True b. False Indicate whether the statement is true or false
If two firms comprise the entire soft drink market, the market would be a(n)
a. Nash equilibrium. b. monopolistically competitive market. c. oligopolistically competitive market. d. duopoly.
A group of workers who bargain collectively with employers for higher wages and better working conditions is called a:
A. labor union. B. labor monopsony. C. closed shop. D. labor collective.