To say that a firm is competitive in the labor market is to say that the firm
a. has little or no control over the number of workers it hires.
b. has little or no control over the wage it pays its workers.
c. is aggressive in pursuing the most skilled workers in the labor market.
d. is aggressive in trying to keep its workers' wages low.
b
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The figure above shows the demand curve, marginal revenue curve, and marginal cost curve. The amount of consumer surplus when the market has a monopoly producer is
A) ace. B) abf. C) bcd. D) bcef. E) acd.
Which of the following is NOT an economic function of the U.S. government?
A) promoting competition B) providing public goods C) promoting price stability D) encouraging production of government-inhibited goods
Which of the following statements is most consistent with the rule of rational choice?
a. "The Environmental Protection Agency should strive to eliminate virtually all air and water pollution." b. "When evaluating new prescription drugs, the Food and Drug Administration should weigh each drug's potential health benefits against the potential health risks posed by known side effects." c. "Police forces should be enlarged until virtually all crime is eliminated." d. "Manufacturers of automobiles should seek to make cars safer, no matter the costs involved."
Historically, stocks have offered higher rates of return than bonds
a. True b. False Indicate whether the statement is true or false