A Change in the Supply of One Factor of Production

question 406

Multiple Choice

A change in the supply of one factor of production

• A)will not change either the marginal productivities or the prices of other factors.
• B)will not change the prices of other factors, but it may change their marginal productivities.
• C)will not change the marginal productivities of other factors, but it may change their prices.
• D)changes the marginal productivities and the prices of other factors.

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Definitions:

Incidence

a measure used in epidemiology to refer to the rate at which new cases of a disease or condition occur in a population over a specified period of time.

Correlation Coefficient

A statistical measure that describes the extent to which two variables change together and thus how well one variable predicts the other.

Risk

The potential for losing something of value or the possibility of an unwanted outcome.

Insanity Defense

A legal defense in which a person charged with a criminal offense claims to be not guilty by reason of insanity at the time of the crime.