Assuming all else equal, if the demand for a firm's product falls, ________
A) the firm moves to a lower point along its labor demand curve
B) the firm moves to a higher point along its labor demand curve
C) the firm's labor demand curve shifts to the left
D) the firm's labor demand curve shifts to the right
C
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Which of the following statements is true of inequality in the U.S. economy?
A) Inequality in the U.S. economy is now less than what it was in the year 1950. B) Inequality in the U.S. economy is now higher than what it was in the year 1950. C) Inequality in the U.S. economy had increased throughout the 20th century. D) Inequality in the U.S. economy had decreased throughout the 20th century.
The characteristics that describe a perfectly competitive industry include
A) many firms selling an identical product. B) one firm selling to many buyers. C) many firms selling a slightly differentiated product. D) a few firms selling to many buyers. E) None of the above answers is correct.