The demand curve for labor indicates that:
a. as the real wage rate increases, employers will hire more workers.
b. as the nominal wage rate increases, employers will hire more workers.
c. as the nominal wage rate decreases, the real wage rate increases.
d. as the real wage rate increases, employers will hire fewer workers.
e. as the real wage rate decreases the nominal wage rate increases.
d
You might also like to view...
An agreement negotiated by two countries that places a numerical limit on the quantity of a good that can be imported by one country from another country is called
A) an import quota. B) an export quota. C) a non-tariff trade barrier. D) a voluntary export restraint.
The supply curve of a producer, whose costs vary continuosly with output will be:
a. a straight line vertical to the output axis. b. a straight line horizontal to the output axis. c. the positively sloped portion of the marginal cost curve. d. the negatively sloped portion of the marginal cost curve.
In the United States, all property is privately owned
a. True b. False Indicate whether the statement is true or false
Rent-seeking activity by firms
a. often wastes economic resources. b. increases economic efficiency. c. continues even when an industry is in long-run competitive equilibrium. d. increases the total amount of economic rent available.