Which would cause a leftward shift in the supply curve for telephone service?
a. A decrease in the price of telephones
b. An increase in the wage of telephone workers
c. An increase in consumer incomes in the economy
d. An improvement in telephone technology
b. An increase in the wage of telephone workers
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When prices rise, which of the following happens to income?
a) It goes down b) It buys less c) It rises to meet prices d) It is used to buy different things
Tesla Motors manufacturers its cars at a plant in Fremont, California
At this plant, Tesla is able to take advantage of the high level of technical training possessed by its American workers, but it also sacrifices the ability to pay lower wages had it chosen to open its plant in a low-wage country such as Mexico, India, or China. In deciding to open the Fremont plant, Tesla A) eroded some of its competitiveness in the luxury electric car market because of its increased cost of production. B) faced a trade-off between higher cost and lower precision. C) faced no trade-offs because employing more technically-skilled workers increased efficiency. D) adopted a negative technological change because it chose high-skilled workers over low-paid workers.