In the market for labor, the price of labor is the:
A. number of hours employed per year.
B. real wage.
C. same as price of the product produced by the labor.
D. marginal product of labor.
Answer: B
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Would the housing industry be characterized as an increasing, decreasing or a constant-cost industry? Explain your position
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Which of the following is correct? A general assumption in real business cycle models is that
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