In a perfectly competitive labor market, the wage rate paid by the individual firm is
A. the equilibrium market wage rate.
B. a function of the tax system.
C. below the equilibrium market wage rate.
D. dependent on the demand for the product.
Answer: A
Economics
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An increase in consumer spending based on an increase in income is reflected by
A) an upward rotation of the consumption function. B) a downward shift in the consumption function. C) a movement up along the consumption function. D) an increase in the MPC.
Economics
Refer to the information provided in Figure 31.1 below to answer the question(s) that follow.
Figure 31.1Refer to Figure 31.1. Economic growth is represented by
A. a movement from point D to point A. B. a movement from point A to point C. C. a movement from point D to point C. D. all of the above
Economics