Which of the following would NOT be a reason for a shift in the labor demand curve?
A) a change in demand for the final product
B) a change in labor productivity
C) a change in the market wage rate
D) a change in the price of a related input
Answer: C
You might also like to view...
If the four-firm concentration ratio for the market for pizza is 28 percent, then this industry is best characterized as
A) a monopoly. B) monopolistic competition. C) an oligopoly. D) perfect competition. E) oligopolistic competition.
Bobby spends $100 per month on pizza and CDs. His utility from these goods is shown in the table above. The price of a pizza is $10 and the price of a CD is $20. Bobby currently buys 6 pizzas and 2 CDs. To maximize his utility, he should
A) buy more pizza and fewer CDs. B) buy more CDs and fewer pizza. C) buy more of both goods. D) stay with the current combination of goods.
If a decrease in the price of good X results in a decrease in the quantity of Y demanded:
A. good X and good Y are substitutes. B. good X and good Y are complements. C. the cross-price elasticity of demand for good Y is negative. D. There is not sufficient information to determine the relationship between good X and good Y.
In 1890, the United States Congress
A. passed the Rule of Reason Act. B. created the Interstate Commerce Commission. C. created the Federal Trade Commission. D. passed the Sherman Antitrust Act.