Derived demand means
A. labor demand will shift about in a random fashion.
B. labor demand is derived from demand for the product it produces.
C. labor demand is determined by the supply of labor.
D. the labor demand curve will be upward sloping.
Answer: B
You might also like to view...
Refer to the figure above. Suppose Starbucks charges $3.50 per cup for its latte. Which of the following is true?
i. At this price, the demand for Starbucks latte is inelastic. ii. If Starbucks raises the price of its latte, its revenue will increase. iii. If Starbucks lowers the price of its latte, it will increase its revenue. A) Only iii B) Only i C) Only ii D) i and ii E) i and iii
If we focus on the banking system and assume no change in the public's currency holdings, a loss of reserves by any one bank must:
A. result in a multiple loss to the banking system. B. equal the loss of reserves by the entire system. C. be equal to the net loss of reserves for the banking system. D. result in no change in reserves for the banking system.
Only those products in which a country has an absolute advantage will be competitive in world markets.
Answer the following statement true (T) or false (F)
In the basic closed-economy ISLM model, the goods market can be described by the
A) consumption function. B) investment function. C) government spending and tax. D) goods market equilibrium condition. E) all of the above.