When the marginal productivity of labor decreases, the demand curve for labor in a perfectly competitive market
A) does not change.
B) becomes steeper.
C) shifts to the right.
D) shifts to the left.
Answer: D
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Open market operations are an appropriate tool for day-to-day changes in monetary policy
Indicate whether the statement is true or false
If producers must receive a higher price to be induced to produce any quantity, we can conclude that
A) supply decreased. B) demand decreased. C) both supply and demand increased. D) demand increased.
Ten years after the Rio Summit,
a. the World Summit on Sustainable Development was held in Johannesburg b. the Rio Declaration was adopted c. worldwide interest in the summit’s motivating principles had waned d. participating nations agreed to abandon the original goals of Agenda 21
The phase of the business cycle in which real GDP is at a minimum is called:
A. the peak. B. a recession. C. the trough. D. the underside.