The market labor-supply curve has all of the following properties except it:
A. is always upward sloping.
B. reflects people's willingness to work more when wages are higher.
C. shows the relationship between the price of labor and the quantity supplied.
D. shifts with changes in the opportunity cost for work
A. is always upward sloping.
You might also like to view...
All else equal, an increase in net exports accompanied by a decrease in expected future profits would definitely result in
A) an increase in the equilibrium real interest rate. B) a decrease in the equilibrium real interest rate. C) an increase in the equilibrium level of saving and investment. D) a decrease in the equilibrium level of saving and investment.
How does the imposition of a tariff reduce the price of imports?
a. At the lower quantity supplied, the price to the importer is lower than if there were free trade. b. At the lower quantity demanded, the price to the importer is lower than if there were free trade. c. Supply of the product is increased from domestic production, reducing the price of the imports. d. Demand for the product is decreased, so that price must fall.