The labor supply curve shows the relationship between the
a. wage rate and the total quantity of labor demanded by firms
b. wage rate and the total quantity of labor supplied by individuals
c. wage rate and the total quantity of labor supplied by firms
d. wage rate and the total quantity of labor demanded by individuals
e. marginal revenue product of labor and the marginal physical product of labor
B
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There are _______ family farms today than at any previous time in the United States' history.
A. more B. fewer C. about the same number of
The difference in economic growth in North Korea and South Korea can be primarily attributed to differences in ________
A) the proximate causes of prosperity B) geography C) culture D) institutions
Workers whose wages tend to adjust slowly include all of the following EXCEPT
A) those with long-term contracts. B) movie stars, professional athletes, and rock stars. C) union workers. D) unskilled, low wage workers.
One problem with compensation systems is that
A) sometimes a manager is rewarded for an objective other than maximizing profits. B) managers are often paid too much. C) owners sometimes want to pursue social objectives. D) the Dodd-Frank Act of 2010 requires shareholder votes on compensation that are non-binding.