What are the five most important variables that cause the market demand curve for labor to shift?
What will be an ideal response?
The most important factors that cause the demand curve for labor to shift are:
You might also like to view...
Joe's Taco Hut can purchase a delivery truck for $20,000 and Joe estimates it will generate a net income (after taxes, maintenance and operating costs) of $2,000 per year. He has no other opportunities. He should:
A. purchase the truck if the real interest rate is greater than 10%. B. not purchase the truck if the real interest rate is greater than 2%. C. purchase the truck only if the real interest rate is less than 2%. D. purchase the truck if the real interest rate is less than 10%.
Other things being equal, if the quantity of labor supplied is less than the quantity of labor demanded, wages will tend to fall
a. True b. False Indicate whether the statement is true or false
A market demand schedule for a product indicates that
A) as the product's price falls, consumers buy less of the good. B) there is a positive relationship between price and quantity demanded. C) as a product's price rises, consumers buy more of the good. D) there is a negative relationship between price and quantity demanded.
A higher wage could result in a lower labor cost per unit of output than a lower wage if the higher wage:
A. is accompanied by an offsetting decline in fringe benefits. B. increases supervision costs. C. reduces job turnover. D. increases worker absenteeism.