When all other influences on firms' hiring plans remain the same, the
A) lower the real wage rate, the greater is the quantity of labor supplied
B) higher the real wage rate, the greater is the quantity of labor demanded.
C) lower the real wage rate, the smaller is the quantity of labor demanded.
D) lower the real wage rate, the greater is the quantity of labor demanded.
E) None of the above answers is correct because firms' hiring decisions depend on how profitable hiring a worker is, which depends on how much added profit the worker can create.
D
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It is unlikely that players will attain the Stackelberg equilibrium if
a. both players have a dominant strategy. b. the Stackelberg equilibrium is Pareto preferred to the Nash equilibrium. c. the second player cannot be assured that the first player is committed to his strategy. d. there is an advantage to being the second player.
The three most widely followed stock indexes in the United States include all of the following except
A) The NASDAQ. B) the Fortune 500. C) the Dow Jones Industrial Average. D) the S&P 500.
Refer to the graph shown. If a firm wants to produce 300 units of output, it should use the plant size represented by:
A. SATC1. B. SATC2. C. SATC3. D. SATC4.
Which of the following will increase the demand for motorcycles?
A. A fall in the price of motorcycles. B. A fall in insurance rates for motorcycles. C. A fall in the price of automobiles. D. A fall in buyers' incomes (assuming motorcycles are a normal good).