Which of the following would NOT be a reason for a shift in the labor demand curve?
A) a change in demand for the final product
B) a change in labor productivity
C) a change in the market wage rate
D) a change in the price of a related input
C
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The CPI is the average price of all goods and services produced within the economy
Indicate whether the statement is true or false
Assume that a firm spends $500 on two inputs, labor (graphed on the horizontal axis) and capital (graphed on the vertical axis)
If the wage rate is $20 per hour and the rental cost of capital is $25 per hour, the slope of the isocost curve will be A) 500. B) 25/500. C) -4/5. D) 25/20 or 1.25.
How does the progressive income tax help reduce the inequality of income in the United States?
What will be an ideal response?
Assume MUX = 30 utils, MUY = 15 utils, PX = $2, and PY = $0.50 . This consumer:
a. should buy less of X and less of Y. b. is in equilibrium. c. should buy more of X and less of Y. d. should buy less of X and more of Y. e. should buy more of X and more of Y.