As demonstrated by the labor supply schedule, the quantity of labor supplied depends on
A) workers' productivity.
B) the value of the dollar.
C) the nominal wage.
D) the amount of labor that firms want to hire.
E) the real wage.
E
You might also like to view...
The process of entry and exit into a monopolistically competitive market continues until:
A. profits are positive. B. profits are negative. C. profits are zero. D. Any of these statements could be true.
When small firms in a concentrated industry merge, it will increase the Herfindahl-Hirshman Index but not change the four firm concentration ratio
a. True b. False Indicate whether the statement is true or false
Define the following terms. Give a complete and precise definition in one sentence
a. total utility b. marginal utility c. consumer's surplus d. "law" of demand
The U.S. experience during the 1980s and 1990s illustrates that
a. fiscal policy is substantially more potent than monetary policy. b. a balanced budget is essential for the achievement of price stability. c. a monetary policy that keeps the inflation rate low and steady will help promote economic stability. d. there is a trade-off between inflation and unemployment-the unemployment rate can be reduced if we are willing to tolerate higher rates of inflation.