Which of the following statements are TRUE regarding the demand for labor?
I. The quantity of labor demanded depends on the real wage rate.
II. If the money wage rate increases and the price level remains the same, the quantity of labor demanded decreases.
A) I only
B) II only
C) I and II
D) neither I nor II
C
Economics
You might also like to view...
Which of the following is NOT a reason why countries trade goods with one another?
a. differences in technology used in different countries b. differences in countries' total amount of resources c. the proximity of countries to one another d. differences in countries' languages and cultures
Economics
A real quantity is a quantity measured:
A. by the average quantity. B. using real prices. C. in terms of current dollar value. D. in physical terms.
Economics