Market economies are not constrained by scarcity; only planned economies have that problem
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Each of the following would cause an increase in the supply of baseballs EXCEPT
A) an improvement in technology. B) a decrease in the cost of labor used to produce baseballs. C) an expectation that the price of baseballs will rise in the future. D) an increase in the number of baseball producers.
Economics
An advance in technology which increases labor productivity will shift the:
A. labor demand curve to the left. B. MFC curve to the left. C. MP curve downward. D. labor demand curve to the right.
Economics