The demand for labor is derived from the demand for the goods and services labor can produce.
Answer the following statement true (T) or false (F)
True
The demand for labor and other factors of production depends on the demand for final goods and services produced by these factors.
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There are _______ family farms today than at any previous time in the United States' history.
A. more B. fewer C. about the same number of
Both presidents Kennedy and Reagan proposed significant cuts in income taxes. Opponents of these tax cut proposals argued that
A) it would be better to cut taxes on corporate profits. B) cutting state sales taxes, rather than federal income taxes, would result in greater economic efficiency. C) while the tax cuts would result in greater economic efficiency, there was too much opposition to the tax cuts in Congress. As it turned out, Congress ultimately approved both tax cut proposals. D) the tax cuts would benefit high-income taxpayers.
When MFC = MRP, a firm in a competitive market will
A. stop hiring more workers. B. hire more workers. C. layoff workers. D. earn additional profits.
(The following national income data for an economy are in billions of dollars.)
Refer to the above data. Net exports are equal to:
A.
-$155 billion
B.
$288 billion
C.
-$424 billion
D.
$1483 billion