If a group has a negative elasticity of labor supply (above some income level), then continued increases in wages will result in decreases in the quantity of labor supplied.
Answer the following statement true (T) or false (F)
True
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You purchase a share of Facebook stock from a friend who purchased the stock 1 year ago. Your purchase of the stock represents a transaction in the primary financial market
Indicate whether the statement is true or false
When interest rate rise consumers will
A) compare loan payments with the desirability of goods in the future and increase consumption. B) compare loan payments with the desirability of goods today and increase consumption. C) wait to borrow funds when interest rates fall. D) none of above.
Suppose a firm currently produces 325 units of output per day with 15 workers. The firm is able to produce 340 units of output with a 16th worker. What is the marginal product of the 16th worker?
a. 10 units of output b. 15 units of output c. 16 units of output d. 25 units of output
Economists believe that there are many nonmonetary gains from further trade opening. Which of the following is NOT one of those potential gains?
A) Economies of scale from increased production decreases costs. B) Intensified competition lowers prices. C) Governments will be less reliant on tariff revenue. D) Diversification of production lowers risks.