If the labor supply is unchanged, an increase in the demand for labor will
A) increase the equilibrium wage and increase the quantity of jobs demanded.
B) increase the equilibrium wage and decrease the number of workers employed.
C) decrease the equilibrium wage and increase the number of workers employed.
D) increase the equilibrium wage and increase the number of workers employed.
D
You might also like to view...
What is the relationship between the marginal revenue curve and the demand curve for a single-price monopoly?
What will be an ideal response?
You are the new vice president in charge of advertising at Taco Bell. In your upcoming advertising campaign, you plan to degrade the fast food competitor whose product is the closest substitute for Taco Bell's tacos
That would be the fast food chain whose cross elasticity of demand with your tacos is equal to A) negative 2.11. B) negative 1.75. C) positive 1.55. D) positive 1.00.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD1 the result in the long run would be:
A. P4 and Y1. B. P4 and Y2. C. P5 and Y1. D. P5 and Y2.
In the U.S., the Federal government runs a chronic budget deficit, whereas many state and local governments do not, because:
A. Many state and local governments have balanced-budget laws that make deficits illegal, while the Federal government does not B. Voters in Federal elections tend to favor budget deficits, while voters in state and local elections do not C. Many state and local governments face stricter accounting standards than the Federal government does D. Elections at the state and local levels tend to occur more frequently than at the Federal level