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Author Question: Which of the following is TRUE regarding the labor market? I. The labor supply curve slopes ... (Read 34 times)

serike

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on: Jun 29, 2018
Which of the following is TRUE regarding the labor market?
 
  I. The labor supply curve slopes upward because firms maximize profits as they hire more workers.
  II. If the real wage rate falls, the quantity of labor firms demand increases.
  III. The demand for labor curve slopes downward because as the real wage rate falls, workers demand to work fewer hours.
  A) I and II
  B) I and III
  C) II only
  D) I, II and III

Question 2

As the value of U.S. exports ________, the quantity of ________ demanded increases.
 
  A) increases; foreign currencies
  B) increases; dollars
  C) decreases; dollars
  D) None of the above is correct because the value of U.S. exports has nothing to do with the quantity of dollars or foreign currency demanded.


succesfull

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


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serike

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Reply #2 on: Jun 29, 2018
Thank you :)


succesfull

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Reply #3 on: Jun 29, 2018
Happy to help you


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