In the above figure, the equilibrium level of labor is
A) 100 billion hours.
B) 150 billion hours.
C) 200 billion hours.
D) none of the above
B
You might also like to view...
If the price of iPads falls while demand remains unchanged, then total consumer surplus will ____________.
Fill in the blank(s) with correct word.
Which of the following is likely to cause an upward movement along the labor supply curve assuming all else equal?
A) An increase in the labor population B) A rise in the wage rate. C) A fall in the wage rate. D) A decrease in the labor population
The fact that developed countries have strong, widely attended university systems indicates that
(a) university expansion should be a development priority. (b) universities teach skills used on the job. (c) developing countries place too much stress on agriculture. (d) none of the above.
A disadvantage of the Earned Income Tax Credit (EITC) program is that it does not help alleviate poverty due to unemployment, sickness, or other inability to work
a. True b. False Indicate whether the statement is true or false