A firm's demand for labor depends on, in part, the demand for the firm's product. To summarize this idea, economists say that the demand for labor is:
a. derived demand.
b. marginal demand.
c. secondary demand.
d. monopsonistic demand.
a
Economics
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Economics
Suppose an economy is initially in equilibrium and there is a sudden increase in oil prices. Which of the following is the most likely result?
a. Growth in real GDP b. Price stability c. Full employment output d. Stagflation e. Deflation
Economics
Federal government outlays as a fraction of GDP tripled between 1959 and 2009
a. True b. False
Economics
The Coase theorem applies only in the case of _____
a. merit goods b. common resources c. inferior goods d. private goods
Economics