A supply curve that is upward sloping means that:
A) demand is being ignored.
B) consumers will buy less at lower prices.
C) suppliers will want to sell more at higher prices.
D) suppliers will want to sell less at higher prices.
Answer: C) suppliers will want to sell more at higher prices.
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The price for a unit of labor is the wage rate. What happens to the quantity of labor demanded if the wage rate increases?
A. It increases. B. It decreases. C. It does not change. D. The outcome depends upon the supply of the good.
Gains from trade
A) result in being able to consume beyond the trading individuals' production possibilities frontiers. B) occur when one party to the trade has an absolute advantage in both goods. C) occur when people do not specialize. D) occur when opportunity costs are equal. E) always benefit one party but not the other party of any trade.
Foreign direct investment generally leads to technological advancements in poorer countries
a. True b. False Indicate whether the statement is true or false
If firms sell less output than expected, planned investment:
A. is greater than actual investment. B. equals zero. C. is less than actual investment. D. equals actual investment.