According to the Output Effect of a Factor Price Increase

question 96

Multiple Choice

According to the output effect of a factor price increase, the demand for

• A) the factor whose price has increased will decrease, but the demand for the other factors will increase.
• B) all factors decreases.
• C) all factors increases.
• D) the factor whose price has increased will increase, but the demand for the other factors will decrease.

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Definitions:

Imperialism

A policy of extending a country's power and influence through colonization, use of military force, or other means.

Activist

A person who actively advocates for, works towards, or supports a cause or policy aimed at social, political, economic, or environmental change.

Wealth

The abundance of valuable resources or material possessions, which can include assets like property, investments, and cash.

Traveler's Cheques

Financial instruments issued by banks allowing the holder to exchange the cheque for local currency at various locations globally, intended to help travelers avoid the risks of carrying cash.