It is profitable to hire more labor if the price level ________ and the money wage rate ________
A) rises; falls
B) rises; rises by the same percentage
C) falls; does not change
D) falls; rises
E) does not change; rises
A
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Explain how changes in foreign income can impact real GDP in a country
What will be an ideal response?
The magnitude of the slope of the budget line is the ratio of
A) a price to its quantity. B) a quantity to its price. C) two prices. D) two marginal rates of substitution.
In a call center, which of the following situations can be considered as a variable input in the short run?
A) the level of computer software being utilized B) the number of call center representatives on duty at the center C) the number of call center managers or supervisors D) the size (e.g., square footage) of the call center
Statistical studies in the United States have reached the conclusion that for most workers the response of labor supply to wage changes is
a. quite strong. b. not very strong. c. inverted. d. always zero.