The labor market is an example of _____ a. the derivatives market.
a. the derivatives market.
b. a market in which the natural forces of demand and supply do not operate.
c. a market in which there is no scarcity.
d. a resource market.
e. a product market.
d. a resource market.
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The two types of open market operations are
A) offensive and defensive. B) dynamic and reactionary. C) active and passive. D) dynamic and defensive.
For a monopolist, marginal revenue is
a. equal to price b. greater than price c. less than price d. represented by a horizontal curve e. equal to average revenue
The price elasticity of demand is usually equal to the slope of the demand curve
a. True b. False
If demand is more elastic, the portion of an excise tax borne by a buyer will
a. increase. b. decrease. c. be unchanged. d. increase for normal goods, decrease for inferior goods.