The market labor-supply curve is:
A. downward sloping.
B. perfectly inelastic.
C. perfectly elastic.
D. upward sloping.
Answer: D
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"Beaten paths" in the context of labor migration are:
A. Routes taken previously by family, relatives, and friends B. Routes that have been "over used" by previous immigrants C. Routes that are no longer followed by immigrants D. Typical methods used to increase human capital
Which of the following will be excluded from the measurement of gross domestic product (GDP)?
a. The market value of automobiles purchased by the federal government b. The market value of California wine purchased by a Canadian firm c. The payment of employees' medical insurance d. The market value of computers purchased by state governments e. The market value of transactions in the underground economy
The competitive firm's short-run supply curve is that portion of the
a. average variable cost curve that lies above marginal cost. b. average total cost curve that lies above marginal cost. c. marginal cost curve that lies above average variable cost. d. marginal cost curve that lies above average total cost.
When the output per hour of workers is high, the real wages of the workers will also be high.
A. True B. False