An Increase in the Price of Steel to Producers of Refrigerators

question 317

Multiple Choice

An increase in the price of steel to producers of refrigerators will cause

• A)the quantity demanded for steel to increase.
• B)the demand for refrigerators to decrease.
• C)the quantity supplied of refrigerators to increase.
• D)the supply curve for refrigerators to shift left.

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Definitions:

Labor Force

The total number of people who are eligible to work and are either employed or actively looking for employment.

Organizational Climates

The shared perceptions and attitudes about an organization, influencing its members' behavior and attitudes towards work and each other.

Structured

Organized in a clear, systematic way, often with a set format or pattern.

Authoritarian

A management approach where a single person makes all the decisions without much contribution from the team members.