If the wage rate is fixed at a certain level, the:
A. labor supply curve is horizontal.
B. labor supply is a straight upward sloping line.
C. MP must be constant.
D. labor supply will increase at an increasing rate.
Answer: A
You might also like to view...
How does a change in the quantity of money change the interest rate in the long run?
What will be an ideal response?
Explain the forecast error, ut+1, in terms of: (1 ) Its equation (what it is equal to) (2 ) How it is used (3 ) Its accuracy
What will be an ideal response?
If sewing machines are considered to be a complement to labor in the production of garments, then an increase in the price of sewing machines will cause
A. the demand curve for labor to shift to the right. B. the demand curve for labor to shift to the left. C. a movement along the demand curve for labor. D. nothing to happen to the demand curve for labor.
Steve is finding it impossible to get over his most recent break-up and finds himself talking about her constantly. An example of a commitment device that Steve could use to get over her would be:
A. to start dating someone else. B. to allow Steve's best friend to punch him in the arm any time he mentions her name. C. to take a cold shower every morning. D. None of these is a commitment device.