A competitive firm will hire workers up to the point at which the value of the marginal product of labor equals the

One advantage of a floating exchange rate system compared to a fixed or managed float exchange rate system is

A) it is easier for central banks to control inflation. B) there is no need for government intervention. C) it allows greater exchange rate stability. D) it eliminates the possibility of depreciation during a recession.

Each of the following, except one, is an example of a nonmonetary job characteristic. Which is the exception?

a. the monthly wage b. safety c. potential for advancement d. required physical exertion e. leisure activities available in the surrounding community