Which of the following is likely to cause an increase in the wage rate and a fall in the employment level in a country?
A) A right shift in the demand curve for labor, without any change in the supply curve for labor
B) A left shift in the demand curve for labor, without any change in the supply curve for labor
C) A right shift in the supply curve for labor, without any change in the demand curve for labor
D) A left shift in the supply curve for labor, without any change in the demand curve for labor
D
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In the above figure, if the market is in equilibrium, area A + area B + area C equals
A) total surplus. B) consumer surplus. C) deadweight loss. D) producer surplus. E) total revenue.
A market in which resources are traded is known as a(n)
a. factor market b. perfectly competitive market c. open market d. closed market e. equilibrium market
A decrease in the price level makes consumers feel wealthier, so they purchase more. This logic helps explain why the aggregate demand curve slopes downward
a. True b. False Indicate whether the statement is true or false
Which one of the following is most likely to increase the Herfindahl index of a particular industry?
A. A conglomerate merger. B. A vertical merger. C. A price-fixing arrangement among all the industry firms. D. A horizontal merger.