A. depends on the availability of labor B. decreases when the supply of labor in
ID: 1102549 • Letter: A
Question
A. depends on the availability of labor
B. decreases when the supply of labor increases
C. depends on the value of the marginal product of labor
D. increases when the supply of labor decreases
A. using the rule of law, subsidized services, and income taxes
B. private property rights, income taxes, and the minimum wage
C. income taxes, income maintenance programs, and subsidized services
D. income taxes, rent control, and food stamps
A. higher the rental rate of capital, the greater the quantity of capital demanded
B. lower the rental rate of capital, the smaller the quantity of capital demanded
C. higher the rental rate of capital, the smaller the quantity of capital demanded
D. rental rate of capital and the quantity of capital demanded are not related
A. decreases
B. increases
C. stays the same
D. depends on whether the good is elastic, inelastic or unit elastic
A. less educated
B. better educated
C. low-skilled workers
D. all groups benefited equally
A. It becomes more elastic.
B. The supply of low-skilled labor decreases.
C. The supply of low-skilled labor increases.
D. It becomes less elastic.
A. are more likely to find jobs that are not rewarding
B. have a higher value of marginal product
C. have a more difficult time finding a job because their wage rate is higher
D. have identical supply curves to otherwise similar workers who have not invested in education and training
A. marginal cost x product price
B. marginal product x marginal cost
C. marginal revenue x marginal cost
D. marginal product x product price
A. the population increases
B. the demand for labor curve shifts leftward
C. the supply of labor increases
D. the supply of labor decreases
A. demand for, increases
B. demand for, decreases
C. quantity demanded of, decreases
D. quantity demanded of, increases
The demand for labor ________.A. depends on the availability of labor
B. decreases when the supply of labor increases
C. depends on the value of the marginal product of labor
D. increases when the supply of labor decreases
The three main ways that U.S. government redistributes income are ________.A. using the rule of law, subsidized services, and income taxes
B. private property rights, income taxes, and the minimum wage
C. income taxes, income maintenance programs, and subsidized services
D. income taxes, rent control, and food stamps
Other things remaining the same, the ________.A. higher the rental rate of capital, the greater the quantity of capital demanded
B. lower the rental rate of capital, the smaller the quantity of capital demanded
C. higher the rental rate of capital, the smaller the quantity of capital demanded
D. rental rate of capital and the quantity of capital demanded are not related
If the demand for a good increases then the demand for the factors used to produce that good ________.A. decreases
B. increases
C. stays the same
D. depends on whether the good is elastic, inelastic or unit elastic
Since 1968, the distribution of income in the United States has changed, and the group that benefited the most has been the ________.A. less educated
B. better educated
C. low-skilled workers
D. all groups benefited equally
What is the effect on the supply of low-skilled labor when considering an increase in the number of people pursuing higher education?A. It becomes more elastic.
B. The supply of low-skilled labor decreases.
C. The supply of low-skilled labor increases.
D. It becomes less elastic.
Workers who have invested in education and training ________.A. are more likely to find jobs that are not rewarding
B. have a higher value of marginal product
C. have a more difficult time finding a job because their wage rate is higher
D. have identical supply curves to otherwise similar workers who have not invested in education and training
The value of the marginal product is equal to ________.A. marginal cost x product price
B. marginal product x marginal cost
C. marginal revenue x marginal cost
D. marginal product x product price
The supply of labor curve shifts leftward if ________.A. the population increases
B. the demand for labor curve shifts leftward
C. the supply of labor increases
D. the supply of labor decreases
When the rental rate for capital falls, the ________ capital ________.A. demand for, increases
B. demand for, decreases
C. quantity demanded of, decreases
D. quantity demanded of, increases
Explanation / Answer
First question is answered below
1.
Correct option: (c) depends on the value of marginal product of labor
Reason: Only when the marginal product of labor is positive and the addition of each labor is leading to increased production and the MRPL is greater than the cost of hiring that labor unit, will demand for labor be decided.
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