The major reason the market demand curve for labor slopes downward is because:
a. at lower wage rates, workers are less willing to supply labor to the market.
b. at lower wage rates, workers are more willing to supply labor to the market.
c. of the law of diminishing marginal product
d. of the law of diminishing marginal resource cost.
c
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The central bank of the United States is the:
a. Federal Reserve Banking System. b. First National Bank. c. Comptroller's Bank. d. United States National Bank. e. U.S. Treasury Bank.
Modern terrorism overturns the central assumption of the Westphalian system that says only
a. democracies can provide a lasting form of power. b. weapons of mass destruction actually maintain peace. c. states have the military force to create serious security threats. d. economic inequality pits private citizens against one another.
According to Darity and Myers
A. black men are becoming increasingly marginal to our economy. B. the basic cause of poverty is welfare dependency. C. the best solution to poverty is the negative income tax. D. as our economy continues to expand, black poverty will decline.
Use the above figure. The profit-maximizing price will be
A. P1. B. P2. C. P3. D. P4.