The price for labor is the wage rate. What happens to the quantity of labor demanded if wages increase?
a. It increases.
b. It decreases.
c. It does not change.
d. The whole demand schedule shifts to the left.
b
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On a Phillips curve diagram, an increase in the rate of inflation and a decrease in the rate of unemployment, is represented by a (an)
The equilibrium price will rise and the equilibrium quantity might increase, decrease, or stay the same when the
A) demand and the supply of a good both increase. B) demand for a good increases and the supply of it decreases. C) demand for a good decreases and the supply of it increases. D) demand and the supply of a good both decrease.
To incentivize R&D, the government proposes to take on a company's costs if its product does not succeed. This would lead to
a. The company developing a lot more products with a low risk of failure b. The company developing a lot more products with a high risk of failure c. The company developing no high risk products d. The company going bankrupt
Most changes in the money supply are the consequence of a change in the required reserve ratio
a. True b. False