An upward-sloping supply curve of labor reflects the fact that the
a. demand for the good is increasing causing its price to increase
b. population size in the region is increasing
c. workers are willing to supply a greater quantity of labor at higher wage rates
d. marginal revenue product rises as the wage rate rises
e. workers' opportunity costs are falling as the wage rises
C
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Factors that cause a decrease in the demand for credit at a given real interest rate cause:
A) the credit demand curve to shift to the right. B) an upward movement along the credit demand curve. C) the credit demand curve to shift to the left. D) a downward movement along the credit demand curve.
In a model with money neutrality, how much should the money supply be increased to obtain a 1% increase in nominal output?
A) -1% B) between 0 and 1% C) 1% D) It cannot be done.
How do we find the slope of a nonlinear curve?
Which of the following would most likely cause a rightward shift in a demand curve?
a. a discovery about a product being made in sweat shops b. a recall of an automobile c. a celebrity promoting a sports drink d. an outbreak of E. coli in chicken