A firm's demand for labor depends only on the price of labor
Indicate whether the statement is true or false
F
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La Super Rica is a taco stand in Santa Barbara, California. It is popular with the locals and even the late Julia Child found the food delicious. If La Super Rica is making an economic profit, what is the probable outcome in the taco market?
A) The number of firms will increase, decreasing La Super Rica's demand. B) The number of firms will decrease, decreasing La Super Rica's demand. C) The number of firms will increase, increasing La Super Rica's demand. D) The number of firms will decrease, increasing La Super Rica's demand.
The benefit to employers of deferred payments is that
A) adverse selection is eliminated. B) employers cannot engage in any opportunistic behavior. C) these payments raise the cost of being fired, so more monitoring is needed. D) these payments raise the cost of being fired, so less monitoring is needed.
The political business cycle refers to the possibility that:
a. incumbent politicians will be reelected regardless of the state of the economy. b. politicians will manipulate the economy to enhance their chances of being reelected. c. there are more recessions prior to elections. d. recessions coincide with election years.
The shape of the marginal cost curve tells a producer something about the marginal product of her workers
a. True b. False Indicate whether the statement is true or false