Two Resource Inputs, Capital and Labor, Are Complementary and Used

question 19

Multiple Choice

Two resource inputs, capital and labor, are complementary and used in fixed proportions. An increase in the price of capital will

• A) increase the demand for labor.
• B) decrease the demand for labor.
• C) decrease the quantity demanded for labor.
• D) have no effect, because the relationship is fixed.

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Definitions:

Components of Taste

The five recognized basic tastes perceived by taste receptors: sweet, sour, salty, bitter, and umami.

Psychology

The scientific study of the mind and behavior, exploring how humans and animals interact with their environments.

Structuralist Perspective

An approach in psychology that seeks to understand the structure of the mind and its perceptions by analyzing those components most basic to consciousness.

Modern Psychology

The scientific study of the human mind and behavior, incorporating a wide range of theories and methodologies from the late 19th century to the present.