The demand for household appliances increased due to an increase in consumers' incomes. This will lead to a ________, assuming all else equal
A) rightward shift of the labor demand curve of this industry
B) leftward shift of the labor supply curve of this industry
C) rightward shift of the labor supply curve of this industry
D) leftward shift of the labor demand curve of this industry
A
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Sulfur dioxide emissions allowances are available for purchase on the Chicago Mercantile Exchange, and several environmental groups have raised money to purchase these certificates, which they subsequently destroy
What would be the impact of these environmental groups purchasing and then destroying these cap-and-trade certificates on the price of these certificates in the market? A) The price rises. B) The price falls to zero. C) The price falls, but not to zero. D) The price remains unchanged because the certificates are destroyed.
Capital saving nonneutral technical progress allows a firm to
A) produce more output with the same inputs. B) use less capital and the same amount of other inputs to produce the same level of output. C) use more capital to produce the same level of output. D) use less capital and more of other inputs to produce the same level of output.