If the productivity of labor falls, its MPP will _____ and its MRP will _____.
A. rise; rise
B. fall; fall
C. rise; fall
D. fall; rise
B. fall; fall
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If one looks at U.S. Census data and finds that the average white salary is $39,000 while the average black salary is $36,000, which of the following is not likely to be a significant cause of this difference given U.S. labor market demographics?
A. Whites are more likely than blacks to own their own business. B. Whites are more inclined than blacks to work part-time. C. Whites are more likely than blacks to hold positions in upper management. D. Blacks have less education than whites. E. Discrimination exists in the labor market.
A supply schedule
A. shows what happens to quantity supplied when price is held constant. B. is a table reflecting the inverse relationship between price and quantity supplied. C. can be used to generate a supply curve. D. all of these.