Labor economists sometimes refer to labor demand as "derived" demand. In this context, where does "derived" come from?
A. consumer demand for the firm's product
B. the degree of competition in the firm's industry
C. the firm's profit
D. the firm's production function
E. the union's willingness to accept a lower wage
Answer: A
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. When suppliers are not satisfied, they lower their prices to attract more demanders. 2. If the demand for a good is high, then there will be a shortage of that good. 3. The equilibrium price of a good will rise in response to either a rise in demand or a fall in supply. 4. When a sales tax of 50¢ per carton is imposed on cigarettes, the equilibrium price drops by precisely 50¢ per carton. 5. Suppliers of a commodity are better off whenever the legal incidence of a tax is shifted away from the suppliers to the demanders.
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Use the following balance sheet for the First Federal Bank to answer the next question.AssetsLiabilities + Net WorthReserves$100,000Checkable deposits$300,000Loans140,000Stock shares200,000Securities60,000 Property200,000 If the reserve requirement is 20%, this bank can safely expand its loans by a maximum of
A. $20,000. B. $100,000. C. $200,000. D. $40,000.
The transactions demand for money is most closely related to money functioning as a:
A. unit of account. B. medium of exchange. C. store of value. D. measure of value.