The market demand for labor is
A. more elastic in the short run than in the long run.
B. never elastic in the relevant range.
C. unaffected by time differences.
D. more elastic in the long run than in the short run.
Answer: D
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One of the reasons for the growth performance of free-market economies is firms’ use of innovation to compete with one another.
Answer the following statement true (T) or false (F)
When the economy is operating at a level of real GDP that is greater than its potential level, we know that
A) the structural rate of unemployment is negative. B) the frictional unemployment is zero. C) the actual unemployment rate is greater than the natural rate of unemployment. D) the cyclical rate of unemployment is negative.
Loss aversion can explain why very little ________ actually takes place in the securities market
A) short selling B) bargaining C) bartering D) negotiating
Define labor standards as proposed by the ILO
What will be an ideal response?