Labor demand is decreasing in the wage because
A) the substitution effect is larger than the income effect.
B) the income effect is larger than the substitution effect.
C) the production function is concave.
D) the marginal product of labor is increasing in labor.
C
Economics
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All of the following shift the LAS curve EXCEPT
A) a change in the capital stock. B) an increase in the money wage rate. C) an increase in the stock of human capital. D) technological progress.
Economics
Some companies are having their technical support calls answered by people located in India. This is an example of
A) a factor that shifts the supply of labor curve in the U.S. B) insourcing. C) outsourcing. D) a change in the demand for the final product that labor produces.
Economics