Author Question: After an increase in the demand for construction workers, the market will attain its new long-run ... (Read 69 times)

karen · **on:** Jun 29, 2018

After an increase in the demand for construction workers, the market will attain its new long-run equilibrium faster if

A) wages are flexible.
B) wages are inflexible, forcing new people to enter the market.
C) unions restrict the number of new construction workers.
D) people ignore the shortage in the short run.

Question 2

A demand curve for a normal good

A) slopes upward and to the right.
B) is constructed based on the assumption that income is rising.
C) is constructed based on the assumption that an inverse relationship exists between price and income.
D) shows the inverse relationship between price and quantity demanded.