Exhibit 11- 7 Demand for labor curves
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In Exhibit 11-7, which of the following could have caused the shift in labor demand from D1to D2?
A. Increase in the demand for the product.
B. Decrease in wages.
C. Decrease in price of product.
D. Decrease in demand for the product.
Answer: A
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The following table provides nominal exchange rates for the U.S. dollar.CountryForeign currency/dollarDollar/foreign currencyPoland(Zloty)4.367.229South Africa(rand)6.944.144Based on these data, the nominal exchange rate equals approximately ________ zloty per South African rand or, equivalently, ________ rand per Polish zloty.
A. 0.021; 47.640 B. 0.629; 1.590 C. 47.640; 0.021 D. 1.590; 0.629
Refer to the scenario above. What is the probability of getting heads?
A) 25% B) 50% C) 75% D) 100%
A firm's opportunity cost of using resources provided by the firm's owners is called:
a. sunk costs. b. fixed costs. c. explicit costs. d. implicit costs. e. entrepreneurial costs.
The primary feature of money is that it serves as
a. barter value. b. a medium of exchange. c. intrinsic value. d. commodity value.