An increase in labor supply increases the equilibrium wage rate and decreases the number of workers hired
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
A $50 billion increase in both government spending and taxes will
A) increase GDP by less than $50 billion. B) not change the level of GDP. C) increase GDP by $50 billion. D) increase GDP by more than $50 billion.
Currently, the FDIC insures deposits up to a limit of
A) $1000. B) $100,000. C) $250,000. D) $1,000,000.
A tax that is imposed on an imported good is called a
A) tariff. B) quota. C) government license. D) patent.
A company finds that at its present level of production, MC = AVC at $15, MC = ATC at $20, and MC = MR at $17. Your advice to the firm regarding its short-run operations is
A) to continue production, as it is earning an economic profit of $2 per unit. B) to continue production, as it is earning an economic profit of $3 per unit. C) to shut down. D) to continue production at a loss.