Consider a labor market in equilibrium. If the demand curve shifts to the left while the supply curve shifts to the left, then the number of workers hired in the market will:
A. increase.
B. decrease.
C. remain unchanged.
D. either increase or decrease or remain unchanged.
Answer: B
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With no international trade, the U.S. price of wheat is lower than the world price of wheat
This indicates that the United States ________ a comparative advantage in the production of wheat and with international trade, the United States will ________ wheat. A) has; export B) has; not trade C) has; import D) does not have; export E) might have; export
A large open economy's real interest rate will decrease if
A) the expected future marginal product of domestic capital rises. B) the expected future marginal product of foreign capital rises. C) there is a temporary positive domestic supply shock. D) there is a temporary negative domestic supply shock.
A "risky" asset will earn a rate of return close to that of "riskless" assets if its risk is
A) nondiversifiable. B) diversifiable. C) nominal, as opposed to real. D) related to the rate of inflation. E) no greater than the risk of similar assets.
Refer to the data below. Over which price range is the demand elastic?
A. $4-$6
B. $6-$8
C. $8-$10
D. $14-$16