The demand for automobiles fell when gasoline prices increased. Which of the following is likely to happen in this case, assuming all else equal?
A) The labor demand curve of automobile companies will shift to the left.
B) The labor demand curve of automobile companies will shift to the right.
C) The supply of labor to the automobile industry will decrease.
D) The supply of labor to the automobile industry will increase.
A
You might also like to view...
Fuchs (1988) static model of cost savings provides little encouragement for the prospects of savings in medical care. He concludes our best chance for controlling costs may be
a. to limit input prices. b. to improve efficiency in the production of medical care. c. to reduce medical care utilization. d. to increase the use of low-priced inputs and reduce the use of high-priced inputs. e. all of the above are necessary according to Fuchs.
If two goods are substitutes in consumption, a(n):
a. decrease in the price of one product will cause an increase in the demand for the other product. b. decrease in the price of one product will cause a decrease in the demand for the other product. c. increase in the price of one product will cause an increase in the supply of the other product. d. increase in the price of one product will cause a decrease in the supply of the other product. e. increase in the price of one product will cause a decrease in the demand for the other product.
If price rises, what happens to supply of a product?
a. It increases. b. It decreases. c. It does not change. d. Uncertain--economic theory has no answer to this question.
In order to have a principal agent problem, there must be
a. A market economy b. A dictator and a subordinate c. Asymmetric information d. a situation in which the principal and agent have the same objective e. Both c and d are correct