In a competitive labor market

a. wages would be determined by supply and demand.
b. the demand curve for labor is derived like the demand curve for any other input.
c. the demand curve for labor is the downward-sloping portion of the MRP curve.
d. All of the above answers are correct.


d

Economics

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In the perfectly competitive model, all firms are assumed to be producing: a. products that are heavily advertised. b. differentiated products

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Which of the following is not a function of the Fed?

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A tax reduction shifts the consumption schedule downward

a. True b. False Indicate whether the statement is true or false

Economics