If output decreases, which of the following would occur?
a. Prices of non-labor inputs, input requirements per unit of output and unit costs would all increase and the economy would move upward along the aggregate supply curve.
b. Prices of non-labor inputs, input requirements per unit of output and unit costs would all decrease and the economy would move upward along the aggregate supply curve.
c. Prices of non-labor inputs, input requirements per unit of output and unit costs would all increase and the economy would move downward along the aggregate supply curve.
d. Prices of non-labor inputs, input requirements per unit of output and unit costs would all decrease and the economy would move downward along the aggregate supply curve.
e. Prices of non-labor inputs would decrease, input requirements per unit of output would increase and the economy would move upward along the aggregate supply curve.
D
You might also like to view...
Daniel has $300 in a bank account. Some years ago he put $213.20 into this account, and it has earned 5 percent interest every year since then. How many years ago did Daniel open his account?
a. 4 years b. 5 years c. 6 years d. 7 years
In Figure 45.4, it is clearly the case that Figure 45.4
A. the total amount paid to workers is greater under perfect competition than unionization. B. every individual worker is better off under unionization than perfect competition. C. every individual worker is better off under perfect competition than unionization. D. the total amount of labor employed is greater under perfect competition than unionization.