Due to a recession, Hostess Bakeries found that the demand for its products decreased. The demand for products ________ the demand for bakers and ________ the equilibrium wage rate paid to bakers
A) increased; raised
B) decreased; raised
C) increased; lowered
D) decreased; lowered
D
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Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. If the price of cashews rises from $4 to $6, the market quantity demanded would
A) decrease by 33 lbs. B) increase by 33 lbs. C) increase by 39 lbs. D) decrease by 39 lbs.
The modification of manufacturing processes so as to reduce the resulting environmental damage is an endeavor that requires capital investment, labor inputs, and technology. What then follows from this statement?
A) Economic growth can benefit the environment. B) Environmental damage is a regrettable but necessary side effect of economic growth. C) The condition of the environment will be better in slower-growing countries. D) The way to reduce pollution is to educate people about its effects.
The consumer will pay for ______ of the tax and the seller will pay for ______ of the tax.
A. some; some
B. most; a little
C. all; none
D. none; all
We were on the gold exchange standard from the year ________ to the year _________.
Fill in the blank(s) with the appropriate word(s).