« previous next »

Author Question: The discovery of a new oil field has attracted several new investors to Oiland. How will this affect ... (Read 73 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 newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

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
Discovery of the Rings of Uranus Discovery of the Rings of Uranus
Field research on free-living primates allows primatologists to study patterns of behavior in the se Field research on free-living primates allows primatologists to study patterns of behavior in the se
Edmund Husserl (1859–1938). German philosopher who founded the field of phenomenology. In his ... Edmund Husserl (1859–1938). German philosopher who founded the field of phenomenology. In his ...
Rising sea levels will affect millions in coastal zones and on islands Rising sea levels will affect millions in coastal zones and on islands
Potential gas reserves have increased significantly with the discovery of new shale gas formations Potential gas reserves have increased significantly with the discovery of new shale gas formations
Video: Buffers definition and the role of buffer in the body

For a complete list of videos, visit our video library