The supply curve of truck drivers is upward sloping and demand curve is downward sloping. A reduction in the price of hauling freight by truck relative to the price of hauling freight by rail will ____ the equilibrium wage of truck drivers and ____ the number of drivers employed
a. decrease; decrease
b. decrease; increase
c. increase; decrease
d. increase; increase
D
Economics
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a. True b. False Indicate whether the statement is true or false
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Voluntary exchange
A. is usually beneficial to one party, but not the other. B. is always beneficial to both parties. C. is occasionally beneficial to both parties. D. occurs only between nations, not between individuals.
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How do buyers and sellers benefit from a contract?
Economics
The U.S. Postal Service enjoys a monopoly position because of patent rights.
Answer the following statement true (T) or false (F)
Economics