Which Is an Example of a Change in the Price

question 46

Multiple Choice

Which is an example of a change in the price of another resource that increases labor demand?

• A) Software sales rise,thus increasing the demand for software developers.
• B) Snowboarding increases in popularity,thus increasing the demand for the workers who make snowboards.
• C) A decrease in the price of wood decreases the cost of furniture,thus increasing the demand for furniture workers.
• D) A technological change increases output per worker in the computer industry,thus increasing the demand for computer workers.

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Definitions:

Balance of Payments

A comprehensive summary of all economic transactions between residents of one country and the rest of the world over a specific period.

Exchange Rate

An economic measure that indicates how much one currency is worth in terms of another and is used in international financial transactions.

Mexican Pesos

The currency of Mexico, represented by the symbol $ or MX$ to differentiate it from other dollar-denominated currencies.

Appreciated

An increase in the value of an asset over time, often used in the context of currency, real estate, or financial investments.