The marginal product of labor and the price of the output produced determine the:
A. worker mobility
B. the demand for labor
C. the price of labor
D. the supply of labor
Answer: B
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A policy to increase aggregate demand to cure a recessionary gap may succeed; however, inflation is a likely result
a. True b. False Indicate whether the statement is true or false
Which statement best describes the two issues economists face when comparing the GDP of different nations?
a. The two issues economists face when comparing the GDP of different nations are natural resources and population. b. The two issues economists face when comparing the GDP of different nations are natural resources and tax codes. c. The two issues economists face when comparing the GDP of different nations are currency and natural resources. d. The two issues economists face when comparing the GDP of different nations are currency and population.