The market labor supply curve is the
a. vertical sum of the individual labor supply curves
b. horizontal sum of the individual labor supply curves
c. vertical difference of the individual labor supply curves
d. horizontal difference of the individual labor supply curves
e. average of the individual labor supply curves
B
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Of the three primary tax sources of revenue for the U.S. federal government, which of the following has decreased the most as a percentage of GDP since 1962?
A) corporate income taxes B) social insurance taxes C) sales and excise taxes D) individual income taxes
Marginal product of labor is:
a. the extra output produced by an additional worker, all else unchanged. b. the extra wage earned by an additional worker, all else unchanged. c. the total output produced when an extra worker is hired. d. the total revenue earned when an extra worker is hired.
Average variable cost is equal to total variable cost divided by quantity of output
a. True b. False Indicate whether the statement is true or false
A weakness in the ________ study entitled The Limits to Growth is that it did not account for technological change.
A. the Club of Rome's B. the Fed's C. the European Union's D. the World Bank's