Author Question: As an industry's output increases, the industry's demand for the inputs that it uses will also ... (Read 74 times)

scienceeasy · **on:** Jun 30, 2018

As an industry's output increases, the industry's demand for the inputs that it uses will also increase.
a. True
b. False
Indicate whether the statement is true or false

Question 2

In the market for hardwood, everything else held constant, if the rate of interest increases:
a. the price of the hardwood will fall today.
b. the lumberjacks will harvest fewer trees today.
c. prices of boats and furniture will increase in the present period.
d. the lumberjacks will harvest all the trees leaving nothing for the future.
e. the price of the hardwood will fall in the future.