Holding other factors constant, if food prices decline relative to the prices of other products, then the real wages of agricultural workers will ________ and employment of agricultural workers will ________.
A. decrease; decrease
B. increase; decrease
C. decrease; not change
D. increase; increase
Answer: A
You might also like to view...
Do firms in perfect competition advertise their products? Why or why not?
What will be an ideal response?
Both a defendant and plaintiff believe there is an 80 percent chance that the plaintiff will win $500,000 and a 20 percent chance that the plaintiff will lose and be awarded nothing (zero). If the plaintiff's litigation cost is $150,000 and the defendant's litigation cost is $200,000, the plaintiff would be willing to accept any amount greater than ________ to settle.
A) $150,000 B) $600,000 C) $200,000 D) $250,000
Which of the following definitions of the money supply is the least liquid?
a. M1 b. M2 c. M3 d. L
Which of the following statements is correct?
A. In large measure, economics is the study of how people make choices. B. If poverty was eliminated there would be no reason to study economics. C. Economics is a natural science. D. Economic analysis can be used to explain how societies, but not individuals, make decisions.