The demand for labor reflects the point that the
A) lower the real wage rate, the greater the quantity of labor demanded.
B) higher the real wage rate, the greater the quantity of labor demanded.
C) nominal wage rate and not the real wage rate determines the quantity of labor demanded.
D) real wage rate does not affect the quantity demanded of labor.
E) demand for labor depends on the supply of labor.
A
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In a three-player game, if the game is symmetric and one player does not have a dominant strategy, then the other two players also have no dominant strategy
Indicate whether the statement is true or false
The research of Gavin Wright (1978) on the antebellum period suggests that
(a) there was no limit on the profitability of the plantation utilizing slave labor. (b) issues with management, communication and discipline limited the profitability of the slave plantation. (c) more than 75 percent of the Southern farms were plantations and utilized slave labor. (d) all of the above.
One country has a comparative advantage over another country in the production of a good if it
A) has a curved production possibilities curve and the other country has a linear production possibilities curve. B) has a linear production possibilities curve and the other country has a curved production possibilities curve. C) is a lower opportunity cost producer of the good. D) has lower fixed costs than the other country.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.