Which of the following is not true about the demand curve for labor of a competitive firm?
a. As the wage rate the firm pays decreases, the quantity of labor it demands (employs) increases
b. It shows how much labor the firm is willing to employ at different wage rates.
c. It is identical to the marginal revenue product curve of labor.
d. The wage rate exceeds the workers' opportunity costs.
e. It is downward sloping.
D
You might also like to view...
How is foreign direct investment different from other types of international financial flows?
What will be an ideal response?
Under the Bretton Woods system
A) the United States was the only nation with floating exchange rates. B) all nations fixed the value of their currencies against the dollar. C) the United States was the only nation with a fixed exchange rate. D) all nations allowed the value of their currencies to be determined by the free market.
If the government enacts contractionary fiscal policy, it is most likely at which of the following equilibria in the graph shown?
A. A
B. B
C. C
D. D
The economic rent analysis does not apply to any factor
A. except land. B. whose supply curve is vertical. C. whose supply curve is horizontal. D. whose quantity supplied is fixed.