Because firms are willing to hire additional workers at lower wages, the market labor demand curve is
A. Upward-sloping.
B. Downward-sloping.
C. Vertical.
D. Perfectly elastic.
Answer: B
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John increases his consumption of Good X and Good Y when his income increases. For John
A) Good X and Good Y are substitute goods. B) Good X and Good Y are complement goods. C) Good X is an inferior good. D) Good X and Y are normal goods
An oligopoly will always use game theory to maximize sales rather than profits
a. True b. False Indicate whether the statement is true or false
Barriers to entry only exist for monopoly markets
a. True b. False Indicate whether the statement is true or false
The rate of inflation, excluding the effects of food and energy prices, is _____.
(A) Hyperinflation (B) The core inflation rate (C) The price index (D) The wage-price spiral