As the price of a resource (e.g., labor) decreases,
a. demand for that resource increases
b. the quantity demanded of that resource decreases
c. the supply of that resource increases
d. producers are more willing and able to hire that resource
e. producers are less willing and able to hire that resource
D
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If the exchange rate rises, the quantity of dollars demanded
A) increases and there is movement down along the demand curve for dollars. B) decreases and there is movement down along the demand curve for dollars. C) decreases and there is movement up along the demand curve for dollars. D) increases and there is movement up along the demand curve for dollars. E) does not change.
All other things held constant, lower marginal (income) tax rates
A) necessarily increase tax revenues. B) necessarily decrease tax revenues. C) decrease the attractiveness of productive activities relative to leisure and tax- avoidance activities, and shift the SRAS curve rightward. D) do not affect the attractiveness of productive activities relative to leisure and tax- avoidance activities and therefore the SRAS does not shift rightward or leftward. E) increase the attractiveness of productive activities relative to leisure and tax- avoidance activities and shift the SRAS curve rightward.