« previous next »

Author Question: The discovery of a new oil field has attracted several new investors to Oiland. How will this affect ... (Read 68 times)

bobbysung

  • Hero Member
  • *****
  • Posts: 519
on: Jun 30, 2018
The discovery of a new oil field has attracted several new investors to Oiland. How will this affect Oiland's labor demand curve?
 
  What will be an ideal response?

Question 2

The biggest problem caused by a deflation is that
 
  A) prices fall. B) wages fall.
  C) interest rates rise. D) people cannot repay their debts.
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
Buy Test-Bank


Laurenleakan

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jun 30, 2018
Answer to Question 1

An increase in investment in Oiland will lead to an increase in production in Oiland. This will lead to an increase in the demand for labor. As a result, the labor demand curve of Oiland will shift to the right leading to an increase in the equilibrium wage rate and a decrease in unemployment.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

bobbysung

  • Hero Member
  • *****
  • Posts: 519
Reply #2 on: Jun 30, 2018
Thank you


Laurenleakan

  • Sr. Member
  • ****
  • Posts: 309
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Field experiment on effects of predation on male guppy colouration Field experiment on effects of predation on male guppy colouration
The grey side-gilled sea slug Pleurobranchaea maculata. The discovery of tetrodotoxin in this slug i The grey side-gilled sea slug Pleurobranchaea maculata. The discovery of tetrodotoxin in this slug i
Gravity field of the Moon Gravity field of the Moon
A football game, in 1879, pits Yale against Princeton. The field was not lined or bounded, and play A football game, in 1879, pits Yale against Princeton. The field was not lined or bounded, and play
How much the temperature will rise depends on many factors that affect the level of GHG emission How much the temperature will rise depends on many factors that affect the level of GHG emission
What is the contribution of studying wing spot in the field? What is the contribution of studying wing spot in the field?
Video: HIV replication/ Replication cycle of HIV

For a complete list of videos, visit our video library