Labor demand curves always slope down.
Answer the following statement true (T) or false (F)
True
Rationale: Labor demand curves are portions of the diminishing part of marginal revenue product curves -- and all marginal revenue product firms in a world of scarcity must eventually be diminishing.
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The subject matter of public economics falls into the two general categories of _____ and _____
a. public interest; private interest b. coercion action; individual liberty c. revenue generation; government spending d. civilian activities; military duties
Which of the following would cause a rightward shift in the labor demand curve?
a. A rise in the demand for leisure hours. b. A rise in the wage rate. c. A rise in workers' marginal productivity. d. A decline in workers' nonlabor incomes.
For many corporations, a major portion of the cost of production is fixed in the short run. Should these very large fixed costs be ignored when the executives are making output and pricing decisions? Why?
What will be an ideal response?
When a government subsidizes the sale of milk, cooperative surplus ________ and society gets ________
A) increases; richer B) increases; poorer C) decreases; richer D) decreases; poorer