Answer: "The rise in the price of a pair of running shoes will increase the supply of running shoes".
This statement is <u><em> false</em></u> because <em><u>a decrease in demand for running shoes does not increase the price of a pair of running shoes and an increase in the price of a pair of running shoes does not increase the supply of running shoes. </u></em>
This occurs as the price of a pair of running shoes increases,therefore decreasing the demand and thus the supply will not increase.
Something that was passed through the grapevine is normally some type of gossip. It’s never good and it always ends up hurting someone
Answer:
A large country never gains from imposing an import tariff - option C.
Explanation:
For an import tariff, the national welfare effect is assessed as the sum of the producer and consumer surplus and government revenue effects.
There may be a rise or fall in national welfare, when a large country implements an import tariff.
A large country never gains from imposing an import tariff. The reason is that:
Whenever a large country implements a large tariff, it will result into a fall in national welfare but whenever a large country implements a small tariff, it will raise national welfare.
When the national welfare decreases, the implication is that the sum of the gains is lower than the sum of the losses across all individuals in the economy.
Thus, a large country never gains from imposing an import tariff - option C.
The accurate solution to the query that "Marshall Corporation incurred costs for material and labor needed to manufacture its product, are examples of period costs.
Characteristic of period costs-
A period cost is any value that can not be capitalized into prepaid expenses, inventory, or constant assets. A period cost is closely related to the passage of time than with a transactional event. Since a period cost is largely usually charged to expense at once, it can more accurately be known as a period expense.
Period prices are prices that can not be capitalized on a company’s balance sheet. In different words, they may be expensed withinside the period incurred and found at the income statement.
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