If a Product Becomes More Popular and Consumers Want More

question 182

Multiple Choice

If a product becomes more popular and consumers want more produced,which of the following best describes what happens to move more factors of production into that industry?

• A) An agency of the Federal government directs the movement of factors.
• B) The chief executive officers or presidents of corporations require that factors leave one industry and move to the other industry.
• C) Factor owners voluntarily move their factors because they want to satisfy the interests of consumers.
• D) Wages, rent, interest, and profit increase in that industry, thereby giving factors the incentive to move to that industry.
• E) Consumers increase their demand for the products and, as a result, the taxes the producers must pay decrease enabling the producers to hire more factors of production.

Knowledge of employment law and its implications for hiring and workplace fairness.

Understand the relationship between market interest rates and bond prices.

Analyze the financial accounting entries for bond transactions, including issuance at a premium or discount.

Calculate the selling price and carrying value of bonds.

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Definitions:

Elapsed

Elapsed refers to the amount of time that has passed since the beginning of an event or process.

Following Series

A sequence of numbers or items arranged according to a specific rule or pattern, with each element derived based on the preceding ones.

Miles Per Gallon

A measure of fuel economy that represents the number of miles a vehicle can travel on one gallon of fuel.

Gallons

A unit of volume in the US customary and imperial systems, used to measure liquids. One US gallon is equal to approximately 3.785 liters.