Which of the following statements are TRUE regarding the demand for labor?
I. The quantity of labor demanded depends on the real wage rate.
II. If the money wage rate increases and the price level remains the same, the quantity of labor demanded decreases.
A) I only
B) II only
C) I and II
D) neither I nor II
C
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A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 7 percent decrease in the enrollment
If the university wants to increase its total revenue, it should ________ tuition because the demand for education at this university is ________. A) raise; elastic B) not raise; elastic C) raise; inelastic D) not raise; inelastic
Refer to Table 15.1. The sources of government funds for Arugula in 2012 total
A) $135 million. B) $195 million. C) $380 million. D) $600 million.
How might long policy lags impact the divine coincidence?
What will be an ideal response?
If good B is a complement to good A, then a rise in the price of B
a. increases the quantity demanded of A b. decreases the demand for A c. increases the demand for A d. decreases the quantity demanded of A e. will cause the demand for B to increase