Suppose you make jewelry. If the price of gold falls, then we would expect you to
a. be willing and able to produce less jewelry than before at each possible price.
b. be willing and able to produce more jewelry than before at each possible price.
c. face a greater demand for your jewelry.
d. face a weaker demand for your jewelry.
b
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Which of the following cases represent the smallest increase in the real national debt?
a. The price level increases by 200 percent and the nominal debt increases by 200 percent. b. The price level increases by 200 percent and the nominal debt increases by 100 percent. c. The price level increases by 200 percent and the nominal debt increases by 500 percent. d. The price level increases by 100 percent and the nominal debt increases by 300 percent. e. None of the above
The equation illustrating leakages equal injections in an economy would be:
a. I + S + NT = G + S b. G + S = C + I + X c. S + NT + M = I + G + X d. I + G + X = Rent + Wages + Profits + Interest
Describe what happens to quantity of labor supplied when wages are at the equilibrium level, above equilibrium, and below equilibrium.
What will be an ideal response?
An imperfectly competitive firm faces a demand curve that is:
A. downward-sloping. B. perfectly inelastic. C. more than perfectly elastic. D. perfectly elastic.