In a perfectly competitive resource market the labor supply curve facing the single firm is
A) vertical.
B) horizontal.
C) downward-sloping.
D) upward-sloping.
B
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If the nominal interest rate in an economy is 4% and the real interest rate in the economy is 2%, the rate of inflation in the economy must be:
A) -2%. B) 4%. C) 2%. D) 0.5%.
An increase in the price of a particular bond implies an increase in the interest rate for that bond
a. True b. False Indicate whether the statement is true or false
How would the labor demand curve of a large mortgage company be affected by a drop in mortgage interest rates that sparks a rush on home buying?
a. shift to the left b. shift to the right c. shift upward d. shift downward
Which one of the following topics would be of the most interest to a public choice economist?
A. The theory of comparative advantage. B. The law of increasing opportunity cost. C. Inflation and unemployment. D. Rent-seeking behavior.