Does the law of supply apply to labor markets?
A. No, because the laws of supply and demand both apply only to product markets.
B. Yes, because all workers will increase the number of hours they work if their wages increase.
C. Yes, because some workers who are less committed to the labor force will decide to work if wages increase.
D. No, because workers have no control over the number of hours they work.
Answer: C
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Those who advocate a role for the World Bank in establishing systems of well-defined property and contract rights in developing nations would argue that
A) such changes would eliminate the need for short-term loans. B) such changes would make these economies more productive. C) such changes would eliminate the need for long-term capital funding. D) asymmetric information is currently not a problem in these countries.
Suppose that the annual dividend per share of stock is $5.40 and the closing price of the stock is $72.50, the yield of the stock would be
A) 13.43% B) 7.45% C) 23.62% D) 8.38%
One way the government can encourage economic growth is to:
A. ensure legal agreements will be upheld. B. enforce contracts. C. protect property rights. D. All of these actions will encourage economic growth.
Suppose a country’s workers can produce 4 watches per hour or 16 rings per hour. If there is no trade
A. domestic price of 1 ring is 1/4th of a watch. B. domestic price of 1 ring is 4 watches. C. domestic price of 1 ring is 5 watches. D. all of these.