Holding all other influences constant, the quantity of labor supplied in a given time period depends
A) directly on the real wage rate so that a higher real wage increases the quantity of labor supplied.
B) inversely on the real wage rate so that a higher real wage decreases the quantity of labor supplied.
C) on the money wage rate not the real wage rate.
D) directly on the quantity of labor demanded.
E) inversely on the quantity of labor demanded.
A
You might also like to view...
Job openings are plentiful when the
A) actual real GDP is above the natural real GDP. B) natural real GDP is above the actual real GDP. C) natural real GDP is increasing rapidly. D) None of the above.
Poverty is defined in two ways: the absolute concept of poverty and the relative concept of poverty.
Answer the following statement true (T) or false (F)
The marginal revenue product of labor is the:
A. change in labor necessary to produce an additional unit of output. B. cost of additional labor necessary to produce an additional unit of output. C. change in output resulting from adding an additional unit of labor. D. change in revenue resulting from adding an additional unit of labor.
Including discouraged workers in the calculation of the unemployment rate would
A. not change the reported rate. B. increase the reported rate. C. change the reported rate, but in an unpredictable manner. D. lower the reported rate.