Which of the following correctly identifies the difference between the demand for labor and the demand for final goods?
A) The demand for labor is fixed over time, whereas the demand for final goods changes according to changes in tastes and preferences.
B) The demand for final goods is fixed over time, whereas the demand for labor changes according to the changes in tastes and preferences.
C) The demand for final goods is derived from the demand for labor, whereas the demand for labor is independent of the demand for final goods.
D) The demand for labor is derived from the demand for final goods, whereas the demand for final goods is independent of the demand for labor.
D
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What concept does economics primarily deal with?
a) scarcity b) poverty c) change d) power
A major function of incentive payments, guarantees, and signals is to enable markets to overcome the problem of
A) irrational forecasting. B) efficient forecasting. C) private information. D) public information.