An individual's labor supply curve might be backward bending.
a. true
b. false
Answer: a. true
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What will be the principal and most immediate effect on the supply or demand for raw cotton grown in the United States if the demand for peanuts (which can be grown on cotton land) increases?
A) Decrease in demand B) Decrease in supply C) Increase in demand D) Increase in supply
Which of the following is not correct?
a. Critics argue that minimum-wage laws hurt the very people they are intended to help. b. Minimum-wage laws may increase unemployment among the groups of workers affected by the minimum wage. c. If the demand for unskilled labor is relatively inelastic, the higher wage will produce more unemployment than if the demand for unskilled labor is relatively elastic. d. Minimum-wage laws may benefit teenagers from middle-class families, so the policy is not a precise way to help the poor.
In a game of bargaining, the player who is willing to:
A. make the first move has more bargaining power and so receives a better payoff. B. hold out longer has more bargaining power and so receives a better payoff. C. be cooperative has more bargaining power and so receives a worse payoff. D. hold out longer has more bargaining power and so receives a worse payoff.
An advantage of conventional job analysis interviews and questionnaires is _____.
A. increased employee understanding of the process B. lower cost to the organization C. reduced subjectivity D. less time to complete the process