In general, a higher real wage rate decreases the quantity of labor supplied because fewer people enter the labor force

Bicycles are made out of steel. If the price of steel increases, there is a shift in the supply curve of bicycles that leads to

A) a shift in the demand curve for bicycles. B) a temporary surplus of bicycles. C) a permanent surplus of bicycles. D) an increase in the price of a bicycle.

The federal government spends more on foreign aid than it spends on transportation, education, and agriculture combined

Indicate whether the statement is true or false