If input prices increase, the supply curve for cheese will shift to the right
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Cyclical unemployment results from
A. technological change. B. the decreasing relative importance of goods and the increasing relative importance of services in the U.S. economy. C. a deficiency of spending on goods and services. D. the everyday dynamics of a free labor market, with workers voluntarily changing jobs.
Which of the following statements is true?
A) Lower wages are normally offered for jobs with better amenities. B) Jobs that are relatively risky pay a lower wage than other safer jobs. C) Educational qualifications and wage rates are negatively correlated. D) Incentives are normally higher for desirable occupations in comparison to undesirable occupations.
If a major league baseball player would be willing to work for $500,000 per year and is currently being paid $1,200,000 per year, the opportunity cost of his decision to play baseball is
A) $500,000. B) $1,200,000. C) $1,700,000. D) $700,000.
Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. Which of the following is true? The opportunity cost of:
A. 1 iPod in Country A is 2 tablets. B. 1 tablet in Country A is 2 iPods. C. tablets is lower in Country A than Country B. D. 1 iPod in Country B is 2 tablets.