Employers will hire more units of a resource if the:
A. price of the resource increases.
B. productivity of the resource increases.
C. price of the good being produced declines.
D. price of a complementary resource rises.
Answer: B
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A movement from one point on a production possibilities frontier to another represents
A) unemployment. B) a tradeoff. C) an advance in technology. D) full employment of labor but not capital. E) a free lunch.
You have a bond that pays $125 per year in coupon payments. Which of the following would result in an increase in the price of your bond?
A) Coupon payments on newly-issued bonds rise to $140 per year. B) The likelihood that the firm issuing your bond will default on debt increases. C) Coupon payments on newly-issued bonds fall to $75 per year. D) The price of a share of stock in the company falls.