Christine works for a firm that makes tires for cars. How is Christine's wage affected if the demand for cars increases?
The increase in the demand for cars increases the price of cars. In turn, the demand for workers such as Christine increases, and her wage increases as a result.
Economics
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Many manufactured goods have an ________ supply if production plans have only a short period to change and as time passes and all production adjustments are made, the supply of the good ________ from the initial response
A) inelastic; increases B) elastic; decreases C) elastic; increases D) inelastic; decreases E) inelastic; does not change
Economics
According to the Monetarists, the real effect of monetary policy on output is
a. long-lasting and unpredictable. b. predictable and beneficial. c. nonexistent in the short run. d. always less than fiscal policy
Economics