Which of the following events could increase the demand for labor?
a. A decrease in output price
b. A decrease in the amount of capital available for workers to use
c. An increase in the marginal productivity of workers
d. A decrease in the wage paid to workers
c
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Suppose you are offered a gamble in which you win $1,000 half the time but lose $1,000 half the time. If you are risk averter will you take the gamble?
What will be an ideal response?
Suppose a family-owned yogurt shop has $80,000 in total revenues, $36,000 in rent, and $20,000 in additional operating costs. The husband and wife work in the shop and pay no wages to themselves or others. The economic profits from the shop are
A) $24,000. B) less than $24,000. C) more than $24,000. D) $80,000.
Proponents of monetary policy based on fixed rules base their position on the assumption of a vertical aggregate supply curve.
a. true b. false
Which of the following components are involved in decisions made according to rational self-interest?
a. reminiscence; drawbacks; supply b. reminiscence; benefits; supply c. expectations; drawbacks; costs d. expectations; benefits; costs