The demand for a resource will increase if the:
A. Price of the resource decreases
B. Supply of the resource decreases
C. Price of the product requiring this resource increases
D. Price of the product requiring this resource decreases
C. Price of the product requiring this resource increases
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For the tenant in the post-bellum South, the advantage of sharecropping compared with renting for cash was that _____
a. the sharecropper's output was less dependent on weather b. the sharecropper realized all of the gains from extra effort c. sharecropping required more capital than renting d. under sharecropping the landlord absorbed part of the risk of a bad harvest
The value marginal product of a resource is
a. the marginal product of the resource multiplied by the price of the product it helps to produce. b. the price of the product times the price of the resource. c. larger when the product price is smaller. d. larger when the marginal product is smaller.
The labor-force participation rate equals the percentage of the labor force that is employed
a. True b. False Indicate whether the statement is true or false
The supply curve for stand up paddle boards
a. shifts when the price of stand up paddle boards changes because the price of stand up paddle boards is measured on the vertical axis of the graph. b. shifts when the price of stand up paddle boards changes because the quantity supplied of stand up paddle boards is measured on the horizontal axis of the graph. c. does not shift when the price of stand up paddle boards changes because the price of stand up paddle boards is measured on the vertical axis of the graph. d. does not shift when the price of stand up paddle boards changes because the price of stand up paddle boards is measured on the horizontal axis of the graph.