Deciding if a company will produce automobiles by robotics or manual labor answers the economic question of
A) how will the products be produced. B) who consumes the products produced.
C) where will the products be consumed. D) what products will be produced.
A
You might also like to view...
Let D = demand, S = supply, P = equilibrium price, Q = equilibrium quantity
What happens in the market for sushi if the Surgeon General announces that a majority of the raw fish that is imported to make sushi contains high levels of toxic mercury? A) D decreases, S no change, P and Q decrease B) S decreases, D no change, P increases, Q decreases C) D no change, S increases, P decreases, Q decreases D) D and S decrease, P and Q decrease
Short-run equilibrium output is the level of output at which actual output:
A. equals potential output. B. maximizes firm profits. C. equals planned aggregate expenditure. D. equals real GDP per capita.
Developing new products and services as well as introducing new production methods are among the ways that ________ increases average labor productivity.
A. an entrepreneur B. physical capital C. human capital D. a manager
A rightward shift in a demand curve and a rightward shift in a supply curve both result in a
A. Lower equilibrium quantity. B. Higher equilibrium quantity. C. Higher equilibrium price. D. Lower equilibrium price.