In case of the textile industries of England in 1811, the invention of new technology that allowed workers to complete tasks in minutes that had previously taken hours, resulted in a(n):
A) increase in the demand for labor in the textile industries.
B) increase in the quantity demanded of labor in the textile industries.
C) decrease in the demand for labor in the textile industries.
D) decrease in the quantity demanded of labor in the textile industries.
C
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If a steel company and an ice cream company decide to merge, this merger would be classified as:
a. a horizontal merger. b. a vertical merger. c. a conglomerate merger. d. either a horizontal or vertical merger, depending on the nationality of the companies. e. either a horizontal or vertical merger, depending on the market shares of the two companies.
Which of the following is NOT correct?
a. Many economist oppose increases in how much people save. b. Saving is an important long-run determinant of a nation's standard of living. c. A change in tax laws that encouraged greater saving would lower interest rates. d. Taxes on interest income can substantially decrease the future value of current saving.