Which of the following will increase the marginal product of labor in the labor market?
a. An increase in the price level and the money wage.
b. An increase in the real wage.
c. A decrease in the capital stock.
d. An increase in the supply of labor.
B
You might also like to view...
If the Chinese government sets a price ceiling below the equilibrium price, the result will be I. an increase in the quantity demanded. II. a decrease in the quantity supplied. III. a shortage
A) I only B) I and II only C) III only D) I, II, and III
The race-to-the-bottom concept described in the text refers to
A) the situation in which countries with high standards are forced to lower their standards or face the loss of jobs and industry. B) the situation in which human rights are not respected by trading countries. C) adopting the standards of a few selected middle-income and high-income countries. D) the use of low per-capita income as a means of comparing the well-being of individuals.