An increase in wages in the public sector is caused solely by increased labor productivity in that sector.
Answer the following statement true (T) or false (F)
False
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In the above figure, the economy is at point a on the initial supply of loanable funds curve SLF0. What happens if real wealth decreases?
A) Nothing; the economy would remain at point a. B) There would be a movement to a point such as b on supply of loanable funds curve SLF0. C) The supply of loanable funds curve would shift rightward to a curve such as SLF2. D) The supply of loanable funds curve would shift leftward to a curve such as SLF1.
In the long run, the firms in a perfectly competitive market
A) maximize their profit. B) make an economic profit. C) display price setting behavior. D) are protected by barriers to entry.
In a perfectly competitive labor market, the industry demand curve is ________ and the industry supply curve is ________
A) perfectly elastic; upward sloping B) downward sloping; upward sloping C) upward sloping; downward sloping D) vertical; perfectly elastic
Suppose the accompanying table describes the relationship between price and quantity demanded for a monopolist. QuantityPrice1$102$93$84$75$66$57$48$3The marginal revenue of the fifth unit of output is:
A. $2. B. $30. C. ?$2. D. $6.