Demand for an input is derived from the demand for the final product
a. True
b. False
Indicate whether the statement is true or false
True
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For the U.S. economy, on an average:
A) growth resulting from technology is greater than the growth resulting from human capital. B) growth resulting from technology is smaller than the growth resulting from physical capital. C) growth resulting from technology equal to the growth resulting from physical capital. D) growth resulting from technology equal to the growth resulting from human capital.
Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D2 and S1 (point C)
If the price of motorcycle side cars (a complement to motorcycles) decreases, and the wages of motorcycle workers increase, how will the equilibrium point change? A) The equilibrium point will move from C to A. B) The equilibrium point will move from C to B. C) The equilibrium will first move from C to A, then return to C. D) The equilibrium point will move from C to E.
What are the factors that contribute to productivity growth in the market economy and which of them is considered most important?
What will be an ideal response?
Assuming the economy is in a recession, Keynesian economists predict that lower wages will shift the short-run aggregate supply curve rightward
a. True b. False Indicate whether the statement is true or false