The supply of labor curve
A) has a negative slope.
B) is independent of the wage rate.
C) shows how much labor workers are willing to supply at various real wage rates.
D) is usually vertical.
C
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Marginal utility theory implies that, starting from consumer equilibrium, a rise in income will __________.
When companies sell slightly different forms of a product to different groups of customers, this is known as
A) market testing. B) editions. C) adaptations. D) versioning.
When the Fed purchases bonds, the Fed:
A. increases the reserves and the federal funds rate decreases. B. increases the reserves and the federal funds rate increases. C. reduces the reserves and the federal funds rate increases. D. reduces the reserves and the federal funds rate decreases.
If inflation does not adjust rapidly in the short run, then when the Federal Reserve increases the nominal interest rate, the real interest rate in the short run will:
A. not change. B. decrease. C. increase. D. be determined by saving and investment decisions.