This topic contains a solution. Click here to go to the answer

Author Question: Why does the labor market have more than one equilibrium wage rate? a. Workers differ in their ... (Read 109 times)

leo leo

  • Hero Member
  • *****
  • Posts: 566
Why does the labor market have more than one equilibrium wage rate?
 a. Workers differ in their productivities.
  b. Productivity of workers increases initially but later declines.
  c. The labor demand curve is backward bending.
  d. Marginal revenue product of different inputs used by firms vary.
  e. Employers compete among themselves to hire the best workers.

Question 2

A fall in the average income of a consumer, say during a recession, is represented by:
 a. an upward movement along the demand curve for a good consumed by the consumer.
  b. a downward movement along the demand curve for a good consumed by the consumer.
  c. a shift of the demand curve for a good consumed by the consumer.
  d. a rotation of the demand curve for a good consumed by the consumer.
  e. an inward shift of the demand curve for an inferior good consumed by the consumer.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

eliasc0401

  • Sr. Member
  • ****
  • Posts: 338
Answer to Question 1

a

Answer to Question 2

c





 

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

For a complete list of videos, visit our video library