What would be an example of a consumption good?
A) Donald Trump purchases furniture for his office.
B) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
C) Jake buys an iPhone.
D) The local driver's license office purchases a new digital camera and printer.
E) Rhianna gets a haircut.
C
Economics
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The substitution effect of a change in wage rate on a firm's demand for labor input will be more significant:
a. the greater the change in output. b. the more sharply curved are the firm's isoquants. c. the flatter are the firm's isoquants. d. the larger the quantity of labor employed.
Economics
What results in the aggregate demand curve shifting rightward year after year?
What will be an ideal response?
Economics