Author Question: Labor demand is decreasing in the wage because A) the substitution effect is larger than the ... (Read 142 times)

evelyn o bentley · **on:** Jun 30, 2018

Labor demand is decreasing in the wage because

A) the substitution effect is larger than the income effect.
B) the income effect is larger than the substitution effect.
C) the production function is concave.
D) the marginal product of labor is increasing in labor.

Question 2

The U.S. imposed high tariffs in the early nineteenth century in retaliation for British tariffs imposed on American goods.

Indicate whether the statement is true or false