An increase in the wage rate causes
A) a rightward shift of the firm's labor demand curve.
B) a decrease in the quantity of labor demanded.
C) an increase in labor's marginal productivity.
D) a leftward shift of the firm's labor demand curve.
B
You might also like to view...
When the Fed engages in an open market sale, the money supply ________ and the nominal interest rate ________.
A. decreases; decreases B. increases; increases C. decreases; increases D. increases; decreases
The quantity of labor demanded depends on the
A) money wage rate not the real wage rate. B) real wage rate not the money wage rate. C) price of output not the money wage rate nor the real wage rate. D) money wage rate AND the real wage rate.
The current exchange rate system for most currencies is described most accurately as one of
A. fixed exchange rates. B. freely flexible exchange rates. C. gold standard rates. D. dirty or managed floating.
Recall the Application about food and drink pricing during "happy hour" at bars and restaurants to answer the following question(s).Recall the Application. In a market subject to monopolistic competition, a restaurant's rational response to more elastic demand is to increase its price.
Answer the following statement true (T) or false (F)