The price elasticity of demand for labor will be smaller, the
A) smaller is the price elasticity of demand for the final product.
B) easier it is to employ substitute inputs in production.
C) larger is the proportion of wage costs in the total cost of production.
D) longer is the time period under examination.
Answer: A
Economics
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A decrease in government spending initially and primarily shifts
a. aggregate demand to the right. b. aggregate demand to the left. c. aggregate supply to the right. d. neither aggregate demand nor aggregate supply.
Economics
Refer to the information provided in Figure 18.1 below to answer the question(s) that follow.
Figure 18.1Refer to Figure 18.1. The third fifth of families earned ________% of income in Outland.
A. 12 B. 23 C. 25 D. 35
Economics