If the demand for online banking decreases, we would expect to see the
A) supply of workers that produce online-banking services to increase.
B) supply of workers that produce online-banking services to decrease.
C) demand for workers that produce online-banking services to increase.
D) demand for workers that produce online-banking services to decrease.
Answer: D
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Which of the following describes the difference between the market demand curve for a perfectly competitive industry and the demand curve for a firm in this industry?
A) The market demand curve is downward sloping; the firm's demand curve is a vertical line. B) The market demand curve is downward sloping; the firm's demand curve is a horizontal line. C) The market demand curve is a horizontal line; the firm's demand curve is downward sloping. D) The market demand curve can not have a constant slope; the firm's demand curve has a slope equal to zero.
When a firm's long-run average cost curve is horizontal for a range of output, then that range of production displays
A) constant average fixed costs. B) decreasing returns to scale. C) increasing returns to scale. D) constant returns to scale.