An automobile manufacturer uses land, labor, capital, and entrepreneurial ability to produce cars and trucks. If the price of trucks increases, the automobile manufacturer would not _____
a. pay a lower wage rate to labor
b. increase truck production
c. hire more workers
d. increase capital used in production
e. increase land used in production
a
Economics
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All of the following shift the supply of watches to the right except
a. an increase in the price of watches b. an advance in the technology used to manufacture watches c. a decrease in the wage of workers employed to manufacture watches d. manufacturers' expectations of lower watch prices in the future. e. All of the above cause an increase in the supply of watches.
Economics
Bureaucratic control emphasizes which organizational element?
a. hierarchy and authority b. budget and market influences c. benchmarking statistics d. product quality assurance
Economics