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Author Question: Why does the labor market have more than one equilibrium wage rate? a. Workers differ in their ... (Read 120 times)

leo leo

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on: Jun 30, 2018
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.


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eliasc0401

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


leo leo

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Reply #2 on: Jun 30, 2018
Thank you


eliasc0401

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Reply #3 on: Jun 30, 2018
No problemo


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