Featherbedding shifts the marginal revenue product of labor curve to the right
a. True
b. False
B
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With respect to labor supply, the income effect leads a person to want to work more in order to raise his or her income
Indicate whether the statement is true or false
The ________ that required separation of commercial and investment banking was repealed in 1999
A) the Federal Reserve Act. B) the Glass-Steagall Act. C) the Bank Holding Company Act. D) the Monetary Control Act.
Research on labor supply generally shows that
A) labor supply rises in response to a permanent increase in the real wage, but falls in response to a temporary increase in the real wage. B) labor supply rises in response to a temporary increase in the real wage, but falls in response to a permanent increase in the real wage. C) labor supply rises in response to both a temporary and a permanent increase in the real wage. D) labor supply falls in response to both a temporary and a permanent increase in the real wage.
Real Foods produced 400,000 cans of diced tomatoes last year and 460,000 cans of diced tomatoes this year. It employed the same number of labor hours each year. Real Foods' productivity
a. decreased 13%. b. was unchanged. c. increased 13%. d. increased 15%.