All else constant, a decrease in the per unit price of labor would create an incentive for a firm manager to substitute labor for capital in the firm's production process
Indicate whether the statement is true or false
TRUE
Economics
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Scarcity and choice are the basic problems of economics; the supply and demand mechanism is the basic investigative tool of economics.
Answer the following statement true (T) or false (F)
Economics
Refer to Scenario 17.1. The highest level of y* that can be set and still have the high-productivity people choose to meet it is
A) 16. B) 13 1/3. C) 13. D) 8. E) 0.
Economics
Monetarism resembles Keynesian thinking in that they both
a. emphasize supply and ignore demand. b. integrate supply-side analysis into their models. c. emphasize demand side effects. d. emphasize the importance of fiscal policy.
Economics
A prolonged and deep recession is a
A. hyperinflation. B. contraction. C. depression. D. slowdown.
Economics