If the market wage rate increases, a firm's labor demand curve does not shift but the labor supply curve shifts to the right
Indicate whether the statement is true or false
FALSE
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Declining-block quantity discrimination makes sense if
A) buyers of smaller quantities are more price sensitive than buyers of larger quantities. B) buyers of smaller quantities are less price sensitive than buyers of larger quantities. C) demand for the good is perfectly elastic. D) the lower price for larger quantities encourages all consumers to purchase the larger quantity.
Contractionary monetary policy involves actions that:
A. reduce the money supply in order to decrease aggregate demand. B. increase the money supply in order to decrease aggregate demand. C. reduce the money supply in order to increase aggregate demand. D. increase the money supply in order to increase aggregate demand.
In the United States, a typical worker's income peaks around age
a. 70. b. 60. c. 50. d. 40.
The short-run supply curves of individual firms in a perfectly competitive industry are horizontally added together to find the industry short-run supply curve
Indicate whether the statement is true or false