The equilibrium quantity of labor decreases and the equilibrium wage increases when:
a. labor supply shifts to the left, if wages are flexible.
b. labor demand shifts to the left, if wages are flexible.
c. labor demand shifts to the right, if wages are flexible.
d. labor supply shifts to the right, if wages are flexible.
a. labor supply shifts to the left, if wages are flexible.
You might also like to view...
What is the rationale behind a marketable emission allowance scheme?
A) to discipline polluting firms by specifying the maximum amount of emissions allowed and giving them permits to pollute up to their allowance B) to provide firms with the incentive to consider less costly alternatives to pollution reduction by making firms pay for the right to pollute beyond their specified allowance C) to raise revenue for the government through the sale of emission permits and at the same time set an emissions target D) to create a market for externalities: the scheme brings together buyers and sellers of marketable permits
GDP is equal to
a. the market value of all final goods and services produced within a country in a given period of time. b. Y. c. C + I + G + NX. d. All of the above are correct.
Mary is a bagger at Glen's Market. On a weekly average, she works 30 hours and fills 876 bags of groceries. Her productivity is ___________ bags of groceries per hour.
A. 29.2 B. 26.2 C. 28.6 D. 22.8
Production possibilities in an economy decrease as more resources and better technology are utilized.
Answer the following statement true (T) or false (F)