If the demand for labor is plotted against the money wage, with the money wage on the vertical axis, then
a. an increase in the price level will cause the labor demand schedule to shift to the right.
b. an increase in the money wage will cause the labor demand schedule to shift to the left.
c. an increase in the money wage will cause the labor demand schedule to shift to the right.
d. the labor demand schedule will be upward sloping.
Question 2
Which of the following are not included in the consumption component of gross domestic product?
a. Purchases of stocks and bonds.
b. Consumer durable goods
c. Nondurable consumption goods
d. Consumer services
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Stages of labor.
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