Author Question: Which of the following statements is true of the market for labor? A) In the market for labor, ... (Read 82 times)

jman1234

  • Hero Member
  • *****
  • Posts: 560
Which of the following statements is true of the market for labor?
 
  A) In the market for labor, the supply curve is always more inelastic than the demand curve.
  B) In the market for labor, there is a shortage of labor at the point of intersection of the labor demand and labor supply curves.
  C) In the market for labor, there is a surplus of labor at the point of intersection of the labor demand and labor supply curves.
  D) In the market for labor, both the equilibrium wage rate and quantity of labor are determined at the point of intersection of the labor demand and labor supply curves.

Question 2

A subsidy is
 
  A) the revenue received from the government to produce a good or service by a public authority.
  B) a voucher received by the government from producers of goods and services.
  C) a payment that the government makes to private producers of goods and services.
  D) a tax imposed on the producers of certain goods or services.
  E) a tax imposed on the consumers of certain goods or services.



bfulkerson77

  • Sr. Member
  • ****
  • Posts: 331
Answer to Question 1

D

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

For a complete list of videos, visit our video library