The market supply of labor is
A. The total quantity of labor that workers are willing and able to supply at alternative wage rates in a given period.
B. Different for each individual based on training and education levels.
C. The total of all goods produced in the economy each year.
D. The sum of all jobs created in the economy each year.
Answer: A
You might also like to view...
Refer to Figure 8.1. The dominant strategy for the players would be for Charla to play ________ and for Mirna to play ________
A) Install; Install B) Install; Don't Install C) Don't Install; Install D) Don't Install; Don't Install
Advances in computing power is an example of:
A) labor-saving technological changes. B) skill-biased technological changes. C) unskilled-biased technological changes. D) labor-complementary technological changes.
For a risk-neutral person, the expected utility associated with various levels of wealth
A) is above the person's utility function. B) is below the person's utility function. C) is equal to the person's utility function. D) does not exist.
A radio manufacturer is experiencing theft problems at its warehouse and has decided to hire security guards to reduce the thefts. The firm wants to minimize the net cost of warehouse thefts.
Given the above info, in order to minimize the NET cost of theft, a firm should choose the level of theft prevention at which
A. the total benefit of theft prevention equals the total cost of the theft prevention. B. the marginal benefit of theft equals the marginal cost of the theft. C. the total cost of theft prevention equals the total cost of preventing theft. D. theft is eliminated. E. the marginal benefit of theft prevention equals the marginal cost of preventing theft.