Which of the following will not shift the demand for labor to the right?
A. an increase in the wage rate
B. an increase in the demand for output
C. an increase in the price of a competing input
D. an increase in the competitiveness of an industry
Answer: A
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From the mainstream perspective, instability in the economy is due to
A. volatility of the labor supply. B. excessive use of government policies and regulation. C. volatility of the money supply. D. volatility of aggregate demand.
Which of the following will most likely increase aggregate demand?
a. A decrease in stock market prices. b. An increase in business investment spending. c. A decrease in the expected inflation rate. d. A decrease in real GDP.
Which of the following activities will generate a negative externality?
a. A beekeeper keeping bees for honey b. Inoculations for communicable diseases c. Research and development activities of a firm d. A chemical factory set up in a residential area e. Improvement in education facilities
In the late 1960's, Milton Friedman and Edmund Phelps argued that a tradeoff between inflation and unemployment
a. existed in the long run and the short run. b. existed in the long run but not the short run. c. existed in the short run but not the long run. d. did not exist.