A firm is a price taker in the labor market if
A. there is a scarcity of labor in the market.
B. the hiring of more workers will leave the existing wage rate unchanged.
C. the skills of available workers do not match the requirements for the job.
D. the hiring of more workers will drive the existing wage rate up.
Answer: B
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Eugene White's 1989 study did NOT find that:
a. an increased willingness on the part of New York banks to supply call loans caused the bull market. b. interest rates on call loans increased by roughly 50% from 1922 to 1929. c. credit was being pulled into the stock market by rising interest rates on call loans. d. White's study found all of these things to be true.
To qualify as "money," a virtual currency does not have to be:
a. A unit of account. b. A store of value. c. A medium of exchange. d. Legal tender. e. To qualify as money, a virtual currency must be all of the above.
Sensitivity analysis is restricted to natural sciences.
Answer the following statement true (T) or false (F)
Which is a better outcome for income and standard of living levels for large nations?
a. no tariffs b. low tariffs c. high tariffs d, equal tariffs for all nations