If it is less costly for business firms to adjust the labor demanded as the price level changes than it is for households to adjust Ns, then in the short-run
A) Ns has a positive slope and the demand for labor (Nd) negative slope.
B) Nd has a negative slope and the supply of labor (Ns) a positive slope.
C) AD has a negative slope.
D) SAS has a positive slope.
D
You might also like to view...
A manufacturer of industrial paper shredders can make its machines safer by adding a laser-sensored kill switch to its products. Adding the kill switch costs $17 per machine
The manufacturer estimates that this will prevent 50 injuries for every 30,000 paper shredders sold and that, on average, each injury causes $5,500 of harm. What is the injury cost per paper shredder? Explain whether the manufacturer should or should not add the kill switch to the paper shredder.
A risk-averse individual has
A) an increasing marginal utility of income. B) an increasing marginal utility of risk. C) a diminishing marginal utility of income. D) a diminishing marginal utility of risk. E) a constant marginal utility of income, but a diminishing marginal utility of risk.
Refer to the above figure. Which panel is consistent with the Fed buying bonds?
A) Panel A B) Panel B C) Panel C D) Panel D
If the price of Chinese food decreases, then the demand for chopsticks decreases because they are complementary goods
Indicate whether the statement is true or false