As the real wage decreases, the quantity of labor demanded ________ and the quantity of labor supplied ________.
A. increases; increases
B. decreases; decreases
C. decreases; increases
D. increases; decreases
Answer: D
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Factors likely to cause a financial crisis in emerging market countries include
A) severe fiscal imbalances. B) decreases in foreign interest rates. C) a foreign exchange crisis. D) too strong oversight of the financial industry.
The equilibrium wage rate is $10 per hour, and the labor hired at that wage is 100 . If the wage rate rises to $11, market forces will push the wage rate further up
Indicate whether the statement is true or false
If the growth rate of the labor force is 2 percent and the growth rate of productivity is 1.5 percent, the growth rate of total output is
A. 3.5 percent. B. 1.33 percent. C. 0.75 percent. D. 0.5 percent.
Hi Phi Sound Unlimited has a monopoly over the installation of surround sound systems. Hi Phi Unlimited's total revenue from installing 15 sound systems is $30,000 and its total revenue from installing 18 sound systems is $33,000. The marginal revenue received from selling the 18th sound system is
A. equal to the price of the 16th sound system. B. greater than the price of the 16th sound system. C. less than the price of the 16th sound system. D. Indeterminate from the given information.