The main effect of a decrease in labor demand that arises from a decrease in capital stock is
A) lower real wages. B) shifts in unemployment.
C) a need for fewer immigrant workers. D) companies make fewer profits.
A
Economics
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A difference between biology and economics is that
A) economists use models and biologists use theories. B) biologists often use laboratory methods and economists do less often. C) economics explains events while biology predict events. D) biologists use the scientific method while economists do not.
Economics
An oligopoly would tend to restrict output and drive up price if
a. barriers to entering the industry are negligible. b. firms engage in informative advertising. c. firms produce a standardized product. d. firms collude and behave like a monopoly.
Economics