Assuming all else equal, if the demand for a firm's product falls, ________
A) the firm moves to a lower point along its labor demand curve
B) the firm moves to a higher point along its labor demand curve
C) the firm's labor demand curve shifts to the left
D) the firm's labor demand curve shifts to the right
C
You might also like to view...
A graphic illustration of the cumulative size distribution of income is known as the
A. Okun curve. B. Gini coefficient. C. Size distribution of income. D. Lorenz curve.
When demand changes and the demand curve shifts, equilibrium price and equilibrium quantity change in the same direction.
Answer the following statement true (T) or false (F)
If real output is $50 billion, the price level is 10, and velocity is 5, what is the stock of money?
A. $1 billion B. $25 billion C. $100 billion D. $2,500 billion
If the demand for agricultural output is highly inelastic, an improvement in the technology used in the agricultural industry most likely will cause a:
A. large drop in the price of agricultural output combined with a large decrease in quantity. B. large drop in the price of agricultural output combined with a small increase in quantity. C. small drop in the price of agricultural output combined with a large increase in quantity. D. small drop in the price of agricultural output combined with a small increase in quantity.