Which of the following statements is true?
A) The relationship between labor demand and wage rate and the relationship between labor supply and wage rate are both positive.
B) The relationship between labor demand and wage rate and the relationship between labor supply and wage rate are both negative.
C) The relationship between labor demand and wage rate is positive, whereas the relationship between labor supply and wage rate is negative.
D) The relationship between labor demand and wage rate is negative, whereas the relationship between labor supply and wage rate is positive.
D
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What is economic growth?
What will be an ideal response?
If the Fed wanted to expand the money supply as part of an antirecession strategy, it could
a. increase the reserve requirements. b. buy U.S. securities on the open market. c. raise the discount rate. d. sell U.S. securities on the open market.
If a technological advance increases a firm's labor productivity, we would expect its:
A. average total cost curve to rise. B. average total cost curve to fall. C. total cost curve to rise. D. average total cost curve to be unaffected.
The short-term unemployment arising from the process of matching workers with jobs is called
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) seasonal unemployment.