An increase in the price of a firm's product
A) decreases its value of marginal product of labor.
B) increases its demand for labor.
C) increases its supply of labor.
D) None of the above answers is correct.
B
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Rent controls have the effect of keeping prices under control and maintaining an adequate supply of affordable housing for lower income people
Indicate whether the statement is true or false
If the savings rate of Country A increases from 10% to 20% and technology growth is zero, then the neoclassical model predicts that in the steady state
a. the capital-to-labor ratio will not grow in the long-run but higher than it is now. b. the capital-to-labor ratio will grow 10% faster. c. the growth rate of output will be permanently higher. d. the level of output will be permanently higher. e. a and d.
When measured as a percentage of GDP, the U.S. national debt reached its highest levels as a result of:
a. World War II. b. The Vietnam War. c. The Reagan defense buildup and tax cut. d. The Bush economic recovery program.
If inventories are being depleted, firms may respond by cutting prices
a. True b. False Indicate whether the statement is true or false