An increase in the employment tax will have no effect on output if the labor supply curve
A) is perfectly vertical. B) has a positive slope.
C) is perfectly horizontal. D) has a negative slope.
A
You might also like to view...
Use the following information on a hypothetical short-run production function to answer questions a-c
Units of Labor/Day 5 6 7 8 9 Units of Output/Day 120 140 155 165 168 The price of labor is $20 per day. Ten units of capital are used each day, regardless of output level. The price of capital is $50 per unit. a. Calculate the marginal and average variable product of each unit of labor input. b. Calculate total, average total, average variable, and marginal costs. c. Can you tell where diminishing marginal returns sets in?
Joe and Jim purchase vegetables at a grocery store, but Jim also grows vegetables in his back yard. Regarding these two practices, which of the following statements is correct?
a. Only Joe's grocery store purchases are included in GDP. b. Only Joe's and Jim's grocery store purchases are included in GDP. c. Joe's and Jim's grocery store purchases are included in GDP. The vegetables from Jim's backyard garden are included at their market value. d. Joe's and Jim's grocery store purchases are included in GDP. The vegetables from Jim's backyard garden are included at their market value, if Jim provides this information.