Ceteris paribus, an increase in the price of a good will cause the:
a. quantity demanded of the good to increase
b. quantity supplied of the good to decrease.
c. supply of the good to increase.
d. consumer surplus derived from the good to decrease.
d
Economics
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Classical economists believed that
A) real GDP per person would rise above its subsistence level in the long run. B) real GDP per person would never rise above its subsistence level in the long run. C) the demand for labor increases when the population increases. D) population growth decreases as real GDP per person rises.
Economics
All of the following will shift the labor supply curve except
A) an increase in labor force participation rate among women. B) a change in a country's immigration policy. C) an increase in the average age of retirement. D) an increase in the wage rate.
Economics