A decrease in labor productivity moves the demand curve for labor______.
a. to the right
b. to the left
c. upward
d. downward
b. to the left
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In a perfectly competitive industry, the firm's demand curve is
What will be an ideal response?
Which of the following is the best example of a market failure that would lead a firm to extract resources at a rate that is faster than the rate that would maximize its long-term stream of profits?
A. The market price of the resource rises. B. Weak property rights create fears that firms will not be allowed to extract in the future. C. An increase in market interest rates. D. New information suggests that the demand for the resource will be greater in the future.
Franco Modigliani has found that an expansionary monetary policy can cause stock market prices to ________ and consumption to ________
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
Which of the following are not counted when we compare a family's income to the poverty line?
a. In-kind transfers such as food stamps, Medicaid, and public housing. b. Cash welfare payments such as from social security. c. Cash payments when a worker becomes unemployed. d. Both a. and b. above are correct.