An individual labor-supply curve represents:
A. a worker's decisions around how many hours to work at each alternative wage.
B. a firm's decisions around how many hours to hire at each alternative wage.
C. the decisions of all firms around how many hours to work at each alternative wage.
D. the decisions of all workers around how many hours to work at each alternative wage.
Answer: A
You might also like to view...
Which of the following describes the relative positions of the demand curve and the average total cost (ATC) curve of a monopolistically competitive firm that earns a profit in the short run?
A) In the short run, the firm's demand curve will lie above its ATC curve. The demand curve will be tangent to the ATC curve in the long run. B) In the short run, the firm's demand curve will lie below its ATC curve. The demand curve will be tangent to the ATC curve in the long run. C) In the short run, the firm's ATC curve will cross the demand curve at the profit maximizing level of output. The demand curve will be tangent to the ATC curve in the long run. D) In the short run, the firm's demand curve will cross its ATC curve at the ATC curve's lowest point. The demand curve will be above the ATC curve in the long run.
In the 1945 Alcoa antitrust case, the Court found ALCOA:
a. not guilty of violating the Sherman Antitrust Act because it was a good monopoly. b. did not have a good reason for having a large market share, so found it guilty. c. guilty because its firm size was a per se violation of antitrust laws. d. not guilty because it did not engage in any illegal or unfair acts. e. was no threat to industrial democracy.
A nation's capital stock will decline, ceteris paribus, in all of the following situations except
A. Net investment is negative. B. The population increases faster than the capital stock. C. Depreciation exceeds gross investment. D. None of the choices are correct.
Which of the following is a likely impact of international migration?
A. The country from which workers migrate out to other countries gains welfare as long as remittances are small. B. The workers remaining in the country after emigration lose welfare. C. The receiving country as a whole gains. D. The native workers in the receiving country gain welfare.