Real wages in the United States in the long run:
A. show no discernible relationship to output per worker.
B. have increased at about the same rate as increases in output per worker.
C. have increased slower than increases in output per worker.
D. have increased faster than increases in output per worker.
Answer: B
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Labor productivity will increase if the ________ increases and ________
A) quantity of labor per unit of capital; immigration increases while capital is fixed B) quantity of capital per hour worked; immigration increases while capital is fixed C) quantity of capital per hour worked; technology improves D) quantity of labor per unit of capital; technology improves
The supply curve for a monopoly is given by:
a. the firm's marginal cost curve above the average variable cost curve. b. the one point on the demand curve that corresponds to the quantity for which price is equal to MC. c. the one point on the demand curve that corresponds to the quantity for which MR equals MC. d. the entire demand curve above the point where price is equal to average cost.