The market labor supply curve is usually __________ over the relevant range of market wage rates

a. positively sloped
b. negatively sloped
c. backward bending
d. vertical
e. horizontal

A

Economics

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The major economic problem with recent farm policies is that they provide price and income subsidies that:

A. Are insufficient to keep farmers producing B. Increase the demand for farm products C. Slow the exodus of resources from agriculture D. Limit production to the most profitable products

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Labor productivity is defined as

A. the amount of output a typical worker turns out in an hour of work. B. the amount of output the best worker turns out in a day of work. C. the amount of output improvement in a year of work. D. the amount of average output improvement for a team in a year of work.

Economics