Assume that the demand for paper products increases. Then, we expect that the
a. demand for trees will also increase.
b. demand for trees will stay the same.
c. demand for trees will decrease.
d. effect on the demand for trees is uncertain; it depends on the elasticity of the demand for paper.
A
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Total employment tends to decrease in response to any increase in the legal minimum wage because
A) employers can usually find substitutes for unskilled workers. B) higher wages mean fewer family members will be forced to take jobs. C) wages must be paid out of profits and profits are limited. D) workers are often willing to trade jobs for income.
An advantage of the corporation over other forms of business organization is that
A) the owners have unlimited liability. B) a corporation's profits are taxed only once. C) large-scale, low-cost capital is more readily available. D) the decision-making structure is simple.