Suppose each worker must use only one shovel to dig a trench, and shovels are useless by themselves. In the short run, an increase in the price of shovels will result in
A) fewer shovels being purchased.
B) more workers being hired.
C) a decrease in the firm's output.
D) no change in the firm's output.
D
Economics
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Which of the following is an example of an incomes policy?
a. expansionary fiscal policy b. expansionary monetary policy c. contractionary fiscal policy d. presidential jawboning
Economics
If one U.S. dollar = 11.76 Mexican pesos [Ps], then the reciprocal exchange rate is:
a. 1 Ps = $11.76. b. $1 = Ps 3.92. c. $1 = Ps 0.008. d. $1 = Ps 0.085. e. 1 Ps = $0.085.
Economics