A change in the wage causes a shift in the supply curve for labor and a
A) shift along the demand curve for labor.
B) shift in the demand curve for labor.
C) rotation in the demand curve for labor.
D) It cannot be determined by the information provided.
A
You might also like to view...
Which of the following statements is true of money?
A) Paper money was invented around 1,000 A.D. in China. B) Paper money was the first form of money to be invented. C) One of the limitations of paper money is that it does not function as a store of value. D) Fiat money was used in the barter system of exchange.
Goods produced in the United States and sold in other countries are called
A) imports. B) foreign goods. C) capital goods. D) exports. E) capital account goods.
The results of human action but not of human design
a. have traditionally led to anarchy b. can easily be converted into collective decision-making c. have frequently evolved over time into self-enforcing social institutions d. is in actually the result of planned education funding
If at the prevailing interest rate the quantity of money demanded is $2 trillion, and the supply of money is $1.5 trillion, then which of the following is true?
A. There is a shortage of money, and consequently interest rates must fall in order to achieve an equilibrium in the money market. B. There is a surplus of money, and consequently interest rates must fall in order to achieve an equilibrium in the money market. C. There is shortage of money, and consequently interest rates must rise in order to achieve an equilibrium in the money market. D. There is a surplus of money, and consequently interest rates must rise in order to achieve an equilibrium in the money market.