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.
True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
supply chain
The age-dependent curve of salivary progresterone levels in three populations.
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Effect of Shifting Labor into R&D
A highway curve of radius 80 m is banked at 45°. Suppose that an ice storm hits, and the ...