The quantity effect of a price reduction causes:
A) a decrease in revenue because of a lower price.
B) an increase in revenue because of increased sales.
C) an increase in labor demand due to increased sales of the product.
D) a decrease in labor demand because of a lower price of the final product.
B
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Examples of thrift institutions include
A) savings deposits and checking deposits. B) commercial banks, savings and loan associations, and insurance companies. C) savings and loan associations, savings banks, and credit unions. D) money market mutual funds, commercial banks, and credit unions.
A new U.S. import quota on imported steel would be likely to: a. raise the cost of production to steel-using American firms. b. generate tax revenue to the government
c. decrease U.S. production of steel. d. increase the production of steel-using American firms.