Which of the following increases in labor demand is due to a change in the product demand?
A. A decrease in the price of trucks decreases the cost of transporting goods, thus increasing the demand for truckers.
B. Tourism increases in popularity, increasing the demand for workers at tourist resorts.
C. A change in work rules increases output per worker in the auto industry, thus increasing the demand for auto workers.
D. Access to computers increases the productivity of mail order businesses, thus increasing the demand for their workers.
Answer: B
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The above figure shows the market for gasoline. When a hurricane destroys a major refinery that refines oil into gasoline, the
A) demand curve for gasoline shifts from D1 to D2 and the supply curve of gasoline does not shift. B) demand curve for gasoline shifts from D1 to D2 and the supply curve of gasoline shifts from S2 to S1. C) demand curve for gasoline does not shift, and the supply curve of gasoline shifts from S2 to S1. D) demand curve for gasoline does not shift, and the supply curve of gasoline shifts from S1 to S2.
Each firm in a cartel has an incentive to chisel because market price exceeds
a. marginal cost. b. average cost. c. average variable cost. d. average fixed cost.
The United States has never suffered through periods of hyperinflation in its history
a. True b. False Indicate whether the statement is true or false
If the actual government deficit (-) is equal to -$50 billion, then:
a. Fiscal policy must be expansionary. b. Fiscal policy could be expansionary, contractionary, or neutral. c. Monetary policy must be expansionary. d. Fiscal policy must be contractionary.